- Approximate costs of Application Process: (credit reports/application fee) - Both applicants and guarantors are required to submit credit reports, no exceptions.
- Credit reports and application fees range from $25 to $100 depending on landlord/management company.
- Lease signing requirements: Once all completed application materials have been submitted,
a Michael Charles New York can usually get our clients approved for their apartment or rental property that same day.
- Almost all applications are approved within 1-2 business days.
- Renter must have completed all application materials. This includes reference letters and supporting documentation.
- Approved clients are expected to sign lease immediately and provide necessary funds. Lease signings take place within 24 hours of application approval.
- Renters sign their lease and provide necessary funds regardless of when the lease starts.
- Funds: Renters generally provide 1st month's rent and equivalent of 1 month's rent as a security deposit.
- This money is fully refundable in case a client gets rejected.
- When paying the deposit ask for a receipt that states, the money will be refunded if you are rejected.
- When signing a lease, renters should have funds for rent, security and broker fee (if any).
- Money should be in a certified form Bank Checks: Certified checks or Money orders.
- Personal checks are not accepted.
- Miscellaneous Fees:
- Sometimes landlords/management companies require new tenants to pay a move in deposit.
- This fee can range from $250 - $600.
- Move in fees are usually refundable as long as there is no damage done to a building while moving.
- Some landlords/management companies require renters insurance.
- When renting in a condominium or in a co-op, renters should expect processing fees, move in fees and other miscellaneous fees sometimes in total of $250 - $1100 in non-refundable fees. Be sure to ask your City-Spaces broker if there are additional fees; especially if renting a Condo or Co-Op. Fees for pets or for temporary walls are also common.
- A general price guideline for apartments:
- Studios range from $1,800 to $2,500 per month
- One bedrooms range from $2,200 to $3,700 per month
- Two bedrooms range from $3,500 to $6,500 per month
- Three bedrooms range from $4,500 to $10,000 per month.
All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description. All measurements and square footages are approximate and all information should be confirmed by customer. All rights to content, photographs and graphics reserved to Michael Charles New York. Customer should consult with its counsel regarding all closing costs, including without limitation the New York State 1% tax paid by buyers on residential properties over $1 million. Michael Charles New York represents the seller/owner on Michael Charles New York's own exclusives, except if another agent of Michael Charles New York represents the buyer/tenant, in which case Michael Charles New York will be a dual agent with designated agents representing seller/owner and buyer/tenant. Michael Charles New York represents the buyer/tenant when showing the exclusives of other real estate firms. In all instances Michael Charles New York treats all parties fairly and honestly. Michael Charles New York actively supports equal housing opportunities. Listings from other companies are provided solely as a convenience to customers and Broker has not reviewed or confirmed any information from sources other than Broker