Cash Needed for an apartment in NYC
As the title says, this question goes out to anyone who recently moved to NYC to start their analyst years. I'll be doing the same this coming summer and was just wondering how much cash I should have lined up to sign a lease on an apartment between 1-2k.
Cheers.
It will depend on what you find (fee vs no fee, etc.).
In general expect to pay first month up front, 1-2 months of security deposit (normally 1) and a 15% realtor fee (if you use one - can usually negotiate this).
I would recommend using StreetEasy to find a place. I would look for no fee places if you are on a tight budget. Also don’t use a realtor who is just going to show you large rental units (you can find these yourself). If you use a realtor screen the places he/she will show you, since you normally sign an agreement to pay a fee on anything they show you (if you rent it) - and like I said above, there are many places (large rental buildings) that you can find yourself and deal directly with the management company, so you won’t be on the hook for a fee and can also normally negotiate a free month.
Thanks man, appreciate the help. Any areas neighborhoods you would recommend?
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