As Realtors®, we take our job as well-informed assets to our clients very seriously. We spend hours reading real estate industry publications, newsletters, and scouring internet real estate websites to stay on pace with current market trends.
Recently, a matter of great concern to a lot of people has been the scarcity of apartments in Brooklyn. It’s true! The vacancy rate in our great borough is very low, and great apartments get rented almost immediately. You can boil it down to displacement due to Hurricane Sandy’s destruction, or just the fact that Brooklyn is HOT!
Who wouldn’t want to live here? Brooklyn has everything; Amazing culture, fantastic dining and nightlife, convenient transportation options, and proximity to Manhattan.
So, if you’re looking for an apartment, where does that leave you?
Don’t despair. If you are looking to rent, Northern Brooklyn is experiencing a building boom. Amenity-packed luxury high-rise rental buildings are sprouting up everywhere. Many new construction buildings are offering great incentives like a month of free rent or a year of parking, and we can definitely help you get in on that. Also, spring and summer are seasons of major turn-over in the Brooklyn rental market.
Now let’s say you are not looking for a new construction property, or are trying to get deeper into Brooklyn. What are you to do? Be prepared, and be in
- formed! It’s a good idea to start your apartment search about 3 weeks before your desired move-in date. Looking earlier can lead to a lot of disappointment as what is available today will not be tomorrow. Great apartments don’t stay vacant for long, so if you see something you love, you have to be ready to jump on it.
In terms of preparation, below is a checklist of what will be necessary to rent the apartment of your dreams. It’s a good idea to have all these items ready when y
- ou go to view an apartment.
- Credit Check/Application Fee (usually about $50 per applicant)
- Salary Verification- Paperwork proving you earn 40X the monthly rent, ie., 3 recent paystubs and 3 most recent bank statements
- Cancelled Rent Checks
- Photo ID
- Letters of recommendation from current landlord (especially when credit is an issue)
If you have a guarantor, you will also need the following information about them:
- Credit Check/Application Fee
- Salary Verification- Paperwork proving your guarantor earns 80X the monthly
Finding the right apartment is a lot of work, and we’re here to help you through the whole process. Call us any time at 718.488.0800, and happy hunting!