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Cheap Apartments For Rent

June 5, 2017 by rae steinbach

If you’re under the impression that renting cheap apartments in NYC is hard, you’re right. In an expensive city like New York, where the residential market is increasing prices based on demand year over year, finding a cheap place to live, especially a no fee apartment, doesn’t seem easy. NYC cheap apartments are actually plentiful, but the process of finding the right one is the challenge.

If you’re looking to rent cheap apartments in New York City, here’s a few of the things to look out for when searching.

Assess What You Want in Your Bargain Rental

Before delving into the search for cheap and no fee rentals in NYC, make sure you know what you’re looking for. When you’re on a tight budget, chances are you won’t get everything you dream of, and you’ll have to learn how to compromise. However, making a list or internally deciding what amenities and features are essentials is important in this process. Though it’s likely you won’t find a reasonably-priced apartment with luxury amenities, there are still plenty of bargain options that offer a decent array of extra features.

Some things to ask yourself when searching for no fee rentals or cheap apartments are:

  • How long are you planning to stay?
  • Do you currently have pets or predict having them before the end of your lease, and therefore require a pet-friendly building?
  • Are you comfortable with roommates and if so, what do you look for in one?
  • How close by are the nearest desirable stores/establishments (e.g. cafes, grocery stores)?

Once you know what you need, the search for cheap apartments in New York becomes a lot less tedious.

Broker or Not?

Hiring a real estate agent is a wise choice for finding an apartment if you’re completely unacquainted with the area and need an expert’s help. However, if you’re running on a tight budget, you should consider no fee NYC rentals in order to save yourself the broker costs.

Brokers or real estate agents charge about 15% of the first annual rent fee. Involving a broker isn’t a necessity if you take the  time to search for no fee listings or go it alone (though this latter option is best left to those well acquainted with the NYC rental market). Avoiding the costs associated with a rental agent means you can devote your already-limited funds to finding the right budget apartment for you.

Tell Your Friends You’re Looking

Sometimes a strong social network will help you find the best deal when it comes to renting cheap apartments. The more you share with friends, family, and social media followers, the more chances there will be for you to land the perfect rental property based on someone else’s recommendation.

If you’re searching for a roommate to share the apartment with, posting online advertisements makes the search much more convenient. These can take the form of a social media post, posting on Craigslist, and creating an account on roommate search platforms, like Spare Room and Roomster, among other things.

To stay on the safe side, make sure you verify the roommate is a real person and ask a thorough amount of questions. If someone asks for money transfer or your personal information, that just means you need to search someplace else.

Try Looking into New Areas

We all want an NYC apartment for cheap in the heart of Manhattan, but the chances of finding a deal here is pretty slim. Instead, it’s always a good idea to look for apartments in other neighborhoods of NYC.

For starters, take a look around the Queens neighborhood Sunnyside or the northernmost tip of Manhattan’s Inwood. These neighborhoods and others in lesser-known boroughs and areas are often not be jam-packed with people, and there’s a good chance you’ll find a great apartment there within your price range.

Don’t Be Hasty!

When you’re renting cheap apartments, you might be tempted to take the least expensive offer, but the number one rule to finding an apartment is to be patient. Taking the right precautions and moving forward one step at a time is crucial to avoid making thoughtless mistakes. Even if you’re searching on short notice or with a limited timeline, doing thorough research prior to making a choice is essential.

A few tips to take into account before hastily signing a lease:

  • Take your time to look around the place in person instead of solely relying on pictures on the internet.
  • Visit the apartment you’re thinking of renting, have a stroll around the neighborhood, and get to know what kind of people you’ll be living around.
  • Make sure you’ve done your research on the neighborhood in question, including its reputation and crime rate.
  • Ask questions: To existing tenants, the landlord, neighborhood residents, and anyone else relevant in your decision-making process around an apartment.

If you’re not entirely sure about the apartment, don’t be impulsive to make the final choice. If you have even a shred of doubt, think over it again. Once you’re completely sure of your decision and have all the information necessary at your disposal, only then should you sign the lease.

Make Use of an Online Apartment Search Platform

The internet is a wonderful place to start your preliminary search for cheap rental apartments in NYC. Sure, the Web is filled with questionable offers and scams, but using a legitimate online apartment search platform can be your most helpful strategy. With the city’s residential market so competitive, there are multiple online services, websites, and apps that you can use to search for your dream apartment.

STR is the premiere search service to turn to for finding a cheap New York City rental. With our unbeatable database of apartments in the price range you’re looking for, we offer the largest selection of apartments that are fully tailored to your budget. Our additional search specifications let you narrow down the cheap apartment options to suit your specific preferences.

With our team of customer service specialists, we work closely with you to hunt down the best cheap apartments in NYC. Even if you’re unacquainted with New York City’s real estate market and/or it’s your first time looking for a place to live, we’re here to help and work within any budget you’ve set. Our goal is always to place you in the apartment of your dreams, whether that’s a luxury condo or a cheap, no fee rental.