Need an NYC Apartment for December 1st? BCP Real Estate Group Can Help

Are you searching for an apartment in New York City with a move-in date of December 1st? If so, connect with BCP Real Estate Group to identify suitable options quickly. The last month of the year is among the slowest for the city’s rental market, so it can be especially challenging to locate units that suit your requirements. At the same time, many landlords reduce rents and offer compelling concessions to entice new tenants during the winter.

If you are searching for an NYC apartment for rent in December, sign up with BCP Real Estate Group to access updated apartment listings, referrals to local brokers, and more.

Finding NYC Rentals in December

By December 1st, the holiday season is in full swing, and twinkling lights and other decorations adorn the city. Most renters secure their units near the end of the summer into the fall, so rental markets across all neighborhoods tend to be quiet during the final weeks of the year. The weather starts turning this month too, with the average high around 44 degrees, the average low around 31 degrees and occasional snowstorms. Apartment hunting in the winter in NYC isn’t pleasant, so you won’t face as much competition. However, inventory levels tend to be lowest by the 12th month of the year, so you must be flexible.

Pros of Searching for December 1st NYC Apartments

Like most people, you’re probably searching for an NYC apartment in the dead of winter out of necessity. Most people would rather wait for the market to pick up and the weather to improve. Still, some advantages of apartment hunting in New York this month include the following:

• More Concessions – Landlords with units becoming available on December 1st often struggle to find tenants. To woo them for this less popular lease period, they may offer a month or two of free rent or other concessions, making this a great time to secure a rental with some perks.
• Cheaper Rents – To entice more tenants to apartment buildings during low rental market conditions, NYC landlords also often reduce rent prices during the winter. On average, you can expect to pay around 5% less for rent by signing a lease that starts on 12/1.
• More Negotiating Power – Compared with the fast-paced spring and summer months, you’ll be more in the driver’s seat when seeking a rental this time of year. To keep vacancy rates low, landlords may be more willing to negotiate with you, allowing you to customize your lease terms to your liking.

Cons of Looking for Rentals in New York This Time of Year

Few people purposely look for NYC apartments during the holiday season. Most units are on September-to-August leases, so pickings tend to be slim. Some of the top disadvantages of seeking NYC rentals this time of the year include the following:

• Limited Options – December is one of the worst times to find an apartment in NYC because there are so few options. Most people have settled into their rentals by now, and everyone hunkers down for the winter. If you have very specific needs, you are in for a tough time searching for rentals during the last month of the year.
• It’s Harder Finding Roommates – If you need a roommate or two to swing the rent, you’ll have a more challenging time finding one this month. Fewer people are looking for rentals this time of year, so you will get fewer responses to ads and may have to search a lot longer to find someone.

Tips for Finding an NYC Apartment in December

If you need to secure a New York rental in time to move in by 12/1, you’re in for an especially challenging time. The following tips will help you be ready to pounce when you find a suitable place with the right lease terms:

• Start Searching by November 1st – The sweet spot for starting a search for an NYC apartment is about four weeks before your desired move-in date. If you start sooner than that, many landlords won’t have availability information yet, which can be confusing. While you search, think of it as a second full-time job. Devote as much time as you can to the effort for optimal results.
• Get Your Paperwork Ready – Find all the documents you’ll need and store them in a folder you can grab whenever you check out an apartment. You will need the following paperwork to sign a lease for an NYC rental: valid photo ID, income tax statements, paystubs, bank statements, reference letters from previous landlords and a letter of employment.
• Make Sure You Qualify – Don’t start looking for your Dec. 1st NYC rental until you’re sure you will be approved for one. At a minimum, you need to earn at least 40 times the monthly rent. If the rent is $2,000 per month, you need an income of at least $80,000 per year. You also need good-to-excellent credit with a score of at least 700 or – better still – 750.
• Secure a Guarantor If Not – If you know you won’t qualify for an apartment on your own, line up a guarantor, also known as a co-signer, in advance. The right person will live in the city or tri-state area. They must earn at least 80 times the monthly rent. If the rent is $2,000 per month, their income must be at least $160,000 per year.
• Define What You Need – Be clear about what kind of apartment you want. In addition to needing one that is available on December 1st, you may need at least two bedrooms because you have a roommate, or you may need easy access to public transportation. Make a second list of things you’d like to have but can live without. For instance, you may prefer to live in a building with a fitness center but can always sign up at a nearby gym if one isn’t available in an otherwise perfect place.
• Be Flexible – When pickings are so slim like they are near the end of the year, it’s imperative to be flexible. Be open to different types of units, different neighborhoods and different setups.
• Work With a Broker – You may want to avoid paying broker’s fees, but having a broker is one of the best ways to quickly find a great NYC apartment. The right broker will know your desired neighborhood well and can help you sort through options that meet your basic criteria. BCP Real Estate Group can refer you to a broker whenever you’re ready.

How BCP Real Estate Group Can Help

Finding NYC apartments for rent with leases starting on 12/1 can be overwhelming. Few options are available in most areas, making it trickier to secure something suitable. By signing up with BCP Real Estate Group, you can search up-to-the-second apartment listings across all NYC neighborhoods to pinpoint viable options fast. Our website contains helpful information for finding rentals in New York this month and throughout the year. We also have connections with skilled and experienced brokers across the city and can refer you to one when you’re ready. For more information, give us a call today.