5 Things to Look Out for When Touring an NYC Apartment
Cal Portnoy Cal Portnoy

5 Things to Look Out for When Touring an NYC Apartment

Before you move into your new NYC apartment, you should always take the time to tour it in person if you can. To avoid a bad experience when living in an apartment, you should always keep your eyes and ears open when touring. If you can’t tour in person, we can tour for you! With that in mind, here are 5 things to remember while touring an NYC apartment.

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Fee vs. No Fee Rental Apartments
New York City Apartment Help, New York City Brokers TURKOIS New York City Apartment Help, New York City Brokers TURKOIS

Fee vs. No Fee Rental Apartments

When demand for NYC rental apartments is as high as it is now, apartment rents, along with broker’s fees, can get ridiculously high. Anyone who’s ever taken economics knows that high demand drives up prices, and currently in NYC, continually high demand has resulted in both brokers and landlords seeing just how high they can make renters go. When you decide to move forward with an apartment, you will typically have to pay first month’s rent and one month security upfront. Along with broker’s fees, these upfront costs can be a huge issue for many renters. Even with record high prices, though, bidding wars are still common, and oftentimes, brokers will underprice an apartment, just so they can host a super busy open house and drive the prices right back up. It isn’t fun out there for renters right now, especially when they’re going at it alone.

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Manhattan Market Update: A starter guide to 3BR's in Midtown and Uptown Manhattan
New York City Apartment Help, New York City Market Trends TURKOIS New York City Apartment Help, New York City Market Trends TURKOIS

Manhattan Market Update: A starter guide to 3BR's in Midtown and Uptown Manhattan

Covid deals are long gone, people, and Manhattan renters are struggling with the aftermath. When people fled Manhattan during 2020, apartment prices fell significantly across the board. Now that renters are flocking back to Manhattan, the resultant price increases seem even that much more more extreme. One agent was quoted saying "Rental prices looked like a V there for a while, but at this point they're starting to look more like a check mark." Rents have risen higher than pre-Covid levels, and even with prices continuing to increase across the board, demand hasn't wavered (Learn more about why demand is so high right now here). This has put a lot of strain on everyone looking for an apartment, from first time renters to lifelong residents.

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Manhattan Market Update: A starter guide to 3BR's in downtown Manhattan
New York City Apartment Help, New York City Market Trends TURKOIS New York City Apartment Help, New York City Market Trends TURKOIS

Manhattan Market Update: A starter guide to 3BR's in downtown Manhattan

The market for rentals in downtown Manhattan is incredibly competitive right now. With so many people looking for apartments, demand has skyrocketed, and so, too, have prices. As the market continues to shift in favor of brokers and landlords, many renters find themselves struggling, and that’s understandable. Fake listings are everywhere. Open houses are crowded, confusing and stressful. Prices are outrageously high and bidding wars are common. Brokers and landlords can be hard to reach for showings and, sometimes, they flat out don’t answer.

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