What should you know about buying an apartment in New York?

Here’s what you should know about buying a New York City apartment: the city’s quirks, pros and cons of owning, how to find an apartment and more. Real estate is complicated enough as it is. Combine that with a competitive and confusing New York City market, and many buyers see plenty of reasons to be nervous.

Is it a good time to rent an apartment in NYC?

And that’s especially true now as renters come back to New York City. Be prepared for a more competitive market this summer, says Elizabeth Kee, a broker at CORE. Some employers are requiring workers to come into the office at least part time, so renters who left the city to work remotely are returning now.

Where to find the best apartments in New York?

Luxury apartments in New York offer upscale living and the best amenities. Look for luxury apartments in city centers or popular neighborhoods with swimming pools, fitness cente… Read Guide > 1 of 47 Verified 23 Units Available

Can You sublet an apartment in New York City?

All tenants in NYC can sublet their apartments—even if your lease says otherwise, although there are certain procedures to follow and you must notify your landlord in writing of your intention to do so. With a sublet, the leaseholder remains on the hook for the rent and any damage to the apartment.

And that’s especially true now as renters come back to New York City. Be prepared for a more competitive market this summer, says Elizabeth Kee, a broker at CORE. Some employers are requiring workers to come into the office at least part time, so renters who left the city to work remotely are returning now.

Do you have to ask questions before renting an apartment?

There’s a lot of ground to cover before you sign a lease, and plenty of questions to ask before renting. If you want to protect yourself and prevent a mess of misunderstandings once you move in, it’s crucial to pose these questions during your apartment hunt. Covering all of your bases should mean less headaches in the long run.

All tenants in NYC can sublet their apartments—even if your lease says otherwise, although there are certain procedures to follow and you must notify your landlord in writing of your intention to do so. With a sublet, the leaseholder remains on the hook for the rent and any damage to the apartment.

Is there increased demand for apartments in NYC?

With the increased demand for apartments, some landlords are increasing rents and offering fewer freebies than they did before, she says. College and grad students are also expected to return to the city in the coming months—increasing demand for rental apartments.