The Ultimate Guide To Finding Month-to-month Rentals In New York

New York is famous for being the city that has some of the most expensive rent prices in the world. That’s probably the reason why a lot of people would rather share apartments in New York, just to try to afford to live in the big city.

Now, of course, there is a whole process behind sharing the rent with someone else. 

In this article, we are going to break down step by step how you can find a month-to-month rental in New York.

We will try to touch everything from hunting down apartments to paying a broker’s fee and sorting the deposit, down to furnishing, getting settled with your roommates, and getting the WIFI service up and running.

Now let’s get started on each of these points one by one and try to expand on all of them starting with…

Finding a Good Apartment

One of the best recommendations when looking for a month-to-month rent is hiring a licensed real estate agent. 

However, the agent must be specialized in short-term rentals, or to the very least, work for a reputable short-term rental agency or listing site. 

Most of the landlords, (not only in NYC but worldwide), don’t like giving out their properties in the short term and having to deal with people leaving the apartment now and then.

For example, co-living in New York will require a bit of hunting and patience from your side, until you are finally settled.

You must look for deals that will provide you with flexible leases.

What does this mean?

Well, here are a couple of things to keep in mind:

• What’s the minimum staying period they offer, (some landlords will not allow lower than three months, others will let you stay only 30 days)?
• What’s the minimum leave notice that you get?
• Are there any penalties involved for leaving early?
• Can your month-to-month lease turn into a long lease?

Okay, so, you have to make sure that the apartment you are staying at will be yours for a minimum of 30 days, however, you shouldn’t feel obligated to stay longer.

Minimum Leave Notice

If you have a problem and suddenly decide to leave, the minimum leave notice is 30 days prior. 

Usually, there aren’t any penalties involved when it comes to short-term rents, however, read that lease contract carefully to not get tied up into unpleasant surprises in case you decide to leave.

Long-Term Commitment

Also, check with your real estate broker if your short-term lease can turn into something of a long-term commitment. 

Maybe your finances will boost up in a few months and you would like to stay for a year at that apartment. It’s always better to ask.

Alright, let’s get into some finances…

Paying The Broker’s Fee Or The Deposit

Now here we will see two opposite points:

• Dealing with the real professionals
• Avoiding scammers

The thing with short-term rents is that they are really hard to find and that’s what makes them perfect for scammers. 

Professional Brokers

Most professional brokers will charge you half of a month’s rent as a fee for their services.

By law, only a portion of a month’s worth of rent is a deposit. If you are three people living together under the same conditions, and the rent is $1800, then you have to pay only $600 in deposit.

Serious companies will notify you of this, or they will let you know that you are getting a room that costs less than others, hence your deposit is a month’s worth of rent for that room.

Professional brokers will meet you up with the landlord or at the very least, show you the apartment themselves. It will be very easy for you to look at the lease and what you are dealing with. 

The deal will be clear on how many people you will stay with and how much is there to be paid in 30 days.

Spotting Scammers

If you see a notice that is originally posted by the landlord but then a broker shows up behind the whole thing then you should run.

Scammers might even act as landlord’s but there are some ways to spot them:

• they won’t let you see the apartment.
• they will ask for more than a month’s worth of rent as a deposit, (which is unlawful).
• they will try to avoid the lease or make you sign papers which aren’t very clear on their terms.

Avoid these kinds of people by all means. Don’t let them lure you in with their lies and comfort like talking. They are here to rob you.

Now let’s focus on something more positive…

Furnishing The New Place

Places like IKEA are ideal if you are on a tight budget. You can get everything from a bed to a drawer at a very cheap price.

They do offer transportation that can come down to your house where you get let’s say, the bed in parts, and then you have to put it together yourself.

Down to the dollar store, you might find posters or motivational quotes you can hang on the wall. It is always better to have some kind of interior design style at your apartment, even though you could be living with others.

Settling In

A few short tips to be clear with your roommates and have all the necessities you need.

How Many People Will Live Together

You have to talk to the landlord, (if you aren’t renting with friends), about how many people will live in the same apartment.

You don’t want to end up with 8 people living in the same 3 room apartment, while you own only a room with your significant other.

Clarify this from the beginning and you should be fine. If this line is crossed, you then reserve the right to leave the apartment early.

Are The Bills Paid Equally

Perhaps one of your roommates decides they want the cable service and they talk to the landlord about it.

But you might not watch TV at all.

Again, talk to the landlord or your real estate broker about these extra expenses. Are they paid individually by everyone or do you have to pay for service you don’t even get to use?

Final Thoughts

Month-to-month rents can be convenient when you are living in a big city like New York.

There is a lot of work involved in finding a good option for you, so make sure to follow all the steps above.

Do your own research and don’t agree to terms not convenient to you.