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So you found the perfect NYC apartment. Now what?

December 15, 2022 | By Roomrs

 

First and foremost, let me say congratulations! You’ve managed to rent an NYC apartment, be approved, and allocate a budget to paying rent every month. That in itself is a big deal.

 

With that being said, what happens now?

 

Most people harp on the nuances of what It takes to rent your first NYC apartment, but most forget to ask questions about what happens afterward.

 

This article will help you understand next steps, and what you should expect at your very first lease signing.

Your first lease signing

A lease signing is a contract, in which you are agreeing to rent an apartment for a certain length of time, and for a certain amount of money. This happens after you put in an application, submit all required documentation, and have been approved for your apartment.

 

Lease signings usually happen in person. You will be invited to a leasing office to sign all required paperwork. If you went through a realtor, they will likely be your point of contact. If the apartment you rented is under their leasing agency, you will be invited to their office space.

 

The Realtor will read through the lease with you; usually with the landlord or property manager present (If you didn’t have a broker, the landlord or property manager will be in attendance). Make sure if you have any questions, you ask them. The point of reading over the lease is so that you, the tenant, know what you’re agreeing to. If there is something that causes confusion or concern, voice it.

Who comes to the lease signing

Every person who is on the lease agreement, must come to the lease signing. If you are planning on living with 4 people, and all 4 people are on the lease; all 4 people must come to the lease signing.

 

Make sure you plan amongst your roommates what time works best for everyone, as you must all be present.

 

If someone is unavailable during the scheduled lease signing, it will be postponed.

 

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What you Should Bring to your Lease Signing

On top of signing paperwork, you are usually required to bring identifying documentation and start making payments.

 

First, make sure you bring some form of ID. This can be a passport, state ID, or Drivers License. The leasing office will usually photo copy your ID, and keep it on file.

 

Next, make sure you are able to pay the fees due at the time of the lease signing. This can include first months rent (some will require last months rent as well), a security deposit, and brokers free (if you had a broker).

 

Payments can be made in a few ways, but the preferred method is by cashiers check or money order. These methods provide added security to the landlord or leasing office, because the bank certifies that the funds are available. Additionally, it can only be cashed to the person (or company) it is addressed to.

What is the Duration of a Lease Signing

The length of time a lease signing takes is completely individual.

 

Some tenants are extremely through when it comes to reading the lease, and wish to ask questions as they go along. Others skim through the lease very quickly, and aim to sign all required paperwork as fast as possible.

 

Although it may seem tempting to want to get though a lease signing quickly, it is recommended that you take your time. This is your last chance to get questions clarified before making a very big commitment. Take it seriously.

 

While lease signings are usually a smooth process, problems can arise. For example, issues with roommates/roommates no longer wanting to live together, prospective tenants getting cold feet, guarantors declining to guarantee the lease agreement, or Realtors not being able to deliver on something that was promised.

 

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What to Expect After the Lease Signing is Over

So you’ve read and looked over the lease thoroughly, and are confident in signing the document.

 

Once the you sign your paperwork, documentation is collected, and fees have been paid, there are a few steps that you can expect to happen afterward.

 

If your move-in date is immediate, your landlord will provide you with a set of keys for the apartment itself, as well as a mail key. If you are living with multiple roommates, each person on the lease should expect to receive a set of keys.

 

If you have a later move-in date, you will get access to the keys at that time.

 

Most management companies are flexible when it comes to move-in dates. If for some reason you need access to the apartment prior to the official move- in date, it can likely be arranged. But only if the apartment is already empty.

 

Ask your landlord or leasing office to prorate the days you will be living in the apartment prior to your official move-in date. To prorate the days, you divide the monthly rent by days in the month. The number you land on is how much you are paying for the apartment per-day. Depending on how many days you occupy the apartment prior to your official move-in date, is what you will be expected to pay.

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