Affordability has become the most crucial factor for rental apartments. House hunters are running out of options in search of something that fits their budget. With Manhattan rental rates at an all-time high, the next best option that renters are considering is Brooklyn, NY. Everything is burning hot, rental rates, broker fees and fast moving inventory. With the demand for residential and affordable housing increasing by the day, buyers seriously have very little scope of negotiating.
But we have found 5 incredible ways, which if followed diligently could get you an affordable rental apartments in Brooklyn, NY.
- Start early
There is a proverb, “the early bird getsthe worm”. Well, it is true for apartment hunting as well. If you start early you can have enough time to check out loads of options in terms of price, locality, facilities and much more. If you are shifting next monthand have just started your house hunt, you cannot expect any kind of negotiation space. It is an emergency, you will have to pay whatever the market demands.
- Have a clear understanding of your budget and its upper and lower limits
If you know your budget well, you can plan your finances accordingly and be less confused during the negotiation phase. You would know exactly how high you can pay and do not keep changing your budget with every apartment you see, however much you like it. The general rule of the thumb is you should be earning about forty times your monthly rent to have asecure and good lifestyle.
- Get a roommate to share your expenses
Rents can be high and the space can be really tempting. You like everything of that apartment, but is not typically affordable. So what? Make it affordable by tagging in a roommate. You share the monthly rent and it is half! Basically you get the best of both the worlds! Space and rent!
- Visit apartments during weekdays
You would have a different understanding of a locality compared to if you visit during the weekends. After all you would be living in that apartment 365 days a year.
- Play the waiting game
Again this is possible if you have enough time in your hands till the actual shifting date. Affordability kicks in after the summer rush subsides. During the month of May and June, most of the families are generating the demand willing to move in and get their children settled. It is from October that buyers can actually have an upper hand in the negotiation, and get some good discounts in the form of a month’s free rent.
To find out more ways to get affordable rental apartments visit twotreesny.com/arts-culture.