Apartments for rent Cheap in New York City under $500, $600, $700, $1000, $1,500, $2000, $3000 per month. Homes and condos for rent in New York City.
The price range of a cheap apartment is between $700 and $6,585. Find cheap apartments in New York City, NY.
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The
easiest way to save money is to avoid paying a broker's fee. "Look for a
building with a rental office directly on site," suggests architect
Hayes Slade, whose Slade Architecture firm knows something about
affordable housing (it won an award for its design of a Brooklyn housing
project in 2010). "That way you can negotiate directly with the
landlord and skip a real-estate agent fee." In order to ditch online
searches, Slade recommends walking the streets of your desired
neighborhood and looking for offices and for rent signs. That's how
investment banker Jessica Gutierrez found a studio she loves in Battery
Park City. "Ask doorman," she says. "I would first ask if this a condo
or is there a leasing office. If it was a condo, I would ask if they had
a list of owners renting out their apartments. At the ones that did, I
would leave my business card, and I got a lot of callbacks from owners
renting their apartments themselves." Victoria Hagman, president of the
Brooklyn-focused agency Realty Collective, hit the pavement too. "When I
was looking for an apartment," she says, "I would go to moving sales
every weekend and ask, 'Has your landlord found someone to take your
apartment yet? Can I see it?'" For more tips, look for Realty
Collective's new apartment-hunting classes at the Brooklyn Brainery (brooklynbrainery.com; next class May 16, $10).
Look at bigger apartment buildings
"A good way to
find an affordable apartment in Manhattan is to look in buildings that
have between 15 and 30 apartments," says Joshua Price of the Price Law
Firm LLC, which specializes in landlord-tenant representation. Odds are
good that if the building has rent-stabilized apartments, they will stay
that way. "In those buildings, it's less likely that, when an apartment
becomes vacant, the landlord will expend the enormous amount of money
necessary to deregulate an apartment. Generally an investor with a
ten-unit building is trying to deregulate every unit and then sell the
building. Someone with a 30-unit building is more likely to be thinking
to hold it and not spend as much money on each vacancy."
Face something ugly
None of us dreams of gazing
out our windows and seeing on-ramps and toll booths, but it might be
better for your bank account. "Proximity to generally undesirable
transportation facilities can be a money saver," says Ryan Harris, a
city planner and a local representative of the American Planning
Association. "Look for areas near elevated train lines, highways, or
bridge and tunnel entrances to be more affordable than those even one or
two blocks away." Harris himself has a colleague who pays $1,850 for
what he calls a "very comfortable" one-bedroom right by the Midtown
Tunnel—when the median rent for one bedrooms in the rest of that section
of Murray Hill is, he notes, $2,295.
Buy earplugs
"Apartments that face noisy
construction sites or other noise-generating operations can be a deal if
you are willing to put up with it," says Morgan Turkewitz of Citi
Habitats. "Apartments above restaurants or bars tend to be less
expensive, as are buildings located along busy avenues." City planner
Harris agrees, adding that "for those not bothered by noise and
disruption, construction of the Second Avenue subway will continue for
another four-plus years, and I suspect it will depress prices along
Second Avenue to some degree." In fact, it did for Jessica Samakow, a
21-year-old intern at an online company who moved into a studio on the
Upper East Side last August. "The broker I dealt with said the normal
price for my apartment was around $1,600," she says. "But because I'm
right near the Second Avenue subway construction, I got the construction
discount and now pay $1,300."
Wait until May
Lorraine Nadel, senior attorney at
Nadel & Associates, a midtown firm that handles real-estate issues
and landlord-tenant litigation, recommends watching for a change to the
city law that will go into effect on May 1. The new edict will require
that apartments in most buildings with three units or more be occupied
for more than 30 consecutive days. "This means that it will be illegal
to rent out apartment units for short-term stays," she says. "This
should increase the supply of available apartments, which should in turn
cause rents to drop, since apartment units can no longer be kept off
the market to be operated as if they were hotel rooms."
In fact, wait until winter
Typically, fewer
people move in the winter, making landlords ready to deal. When designer
and home stager Susan Goldstein was in the market for a new place, she
contacted landlords between Thanksgiving and Christmas. "We looked at
buildings that offered incentives," she says. Her broker, David J. Bucci
of A.C. Lawrence & Co., reports that Goldstein was able to get one
month of rent free, and the building paid the broker's fee. "The
majority of leases turn over during the summer, so the inventory is
high, but so are prices and the number of people looking increases
dramatically," he says. "If you are looking for a deal, the winter
months are the way to go."
Throw in a little elbow grease
"Most landlords
are happy to share the cost of certain repairs and deduct the cost from
the rent," says Candice Vilaire of Brooklyn Heights Real Estate. "Taking
care of the property—painting, recycling, snow-shoveling, vacuuming the
hallway—is a good idea to get a reduction on the rent, especially in
smaller buildings." Vilaire once negotiated an annual rent reduction of
$2,500 for an architect client who was willing to redo some outdated
kitchen cabinets for the landlord. "The rent was decreased by about $200
a month, they lived with a beautiful kitchen, and everyone was happy."
Find a low-key neighborhood
"Check for neighborhoods that are never mentioned in the real estate section of The New York Times,"
says Mitchell Moss, a professor of urban policy and planning at NYU
Wagner. "Look for industrial areas where there are no Internet cafes or
health-food markets." His suggestions: Ridgewood, Queens, and East
Williamsburg, Brooklyn.
Watch for extras
Utility bills can quickly add a
hefty bump to your monthly outlay. For example, while landlords
typically pay heating costs, electricity may come out of your pocket.
"One thing renters should watch for: older buildings that are converted
to electric heat," says Nancy Rankin, an architect with John G. Waite
Associates, a firm that specializes in historic architecture. "Usually
the installation costs are much cheaper for the landlord, but the
monthly electric bill to heat the apartment will be very high."
Rise up
As many of us already know from personal
experience, the rent really is too damn high. "There are no affordable
apartments. Not in Manhattan, the Bronx, Brooklyn, Queens or anywhere
upstate," says Jimmy McMillan, the man who has run for mayor and
governor on the Rent Is Too Damn High ticket. "The buildings are
crumbling but the landlords keep making the rent go up and up and up."
So what can you possibly do to lower your monthly fees? McMillan knows:
"The young people have to rise up and overthrow the votes of their
parents. They must rise up like the young people in the Arab world and
across the country. But they must rise up using democratic means, rise
up through their votes and vote smarter." So if all the above tips,
don't work, you know what you have to do.
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