Renters Guide

Buying a property in New York is a major commitment and often times can seem overwhelming and laborious. The Oxford Property Group team will help smooth the process out for you and will be with you each step of the way. Here are just a few things to anticipate when you decide it’s time to buy a property.

Step-by-Step Process of Renting a Property in NYC

  1. Have a budget
  2. Know what your apartment must-haves are and what you are willing to compromise on. Each apartment is unique and knowing what you really need is essential.
  3. Have the right paperwork ready. This will often include:

    A letter of employment, including salary verification (and a start date if not yet employed). If a bonus is expected, that should be noted as well.

    Bank account numbers (checking and savings) and credit card numbers

    Names, addresses, and phone numbers of previous landlords

    Names, addresses, and phone numbers of accountants or attorneys, if applicable

    Names, addresses, and phone numbers of personal and business references

    Tax returns

    Pay stubs or payment statements

    Personal identification including a photo ID (such as a drivers license or passport)

  4. If you're relocating from out of state:

    Be ready to provide certified checks.

    Personal or out-of-state checks will not be accepted.

  5. Having access .... bring the funds with you, or be prepared to pay wire fees and certified check fees.
  6. Possible required funds to be aware of:

    Many rentals will require two months rent and a security deposit.

    Bring funds to cover broker’s fees if your company is not covering them for you. The tenant is responsible for broker’s fees in New York City.

    Bring funds for a credit check (at Oxford Property Group, this may often be paid by personal check)

    Be prepared for possible move-in/move-out fees

  7. Rentals will requere one month rent and one month security deposit.
  8. When you have the right place for you, you will be asked to fill out a rental application and some miscellaneous documents. Your agent will negotiate the price and lease terms for you. If you accept, a credit report will be run and your references will be checked.
  9. Once all parties sign the lease and the checks are presented, you're in!