Is Buying a Studio Apartment a Good Investment?

- Narrow media is very important in the position of furniture and walls. The benefits from increased wall refreshment house will also increase. By having a cupboard under the sink in the bathroom here you can render useful. From the environment to ensure the highest benefit small furniture, small but should be multi-purpose. Thanks multipurpose furniture bedroom can also be used as a living room. Women cabinets when choosing electives, which are spacious and very functional.

- Home of the base materials used in the model if it consists of a single color and integrity are provided and spacious environment a little closer. In the bathroom and kitchen ceramic works made in the small stones would be more useful if selected. Carpet prefer neutral colors for selection.

- studio apartment in one of the biggest handicap is getting too much light. So when the lighting is not low, it is useful to make a high portion. The environment is to use a separate refreshment floor lamp shades. Bathroom and bedroom are also used as make-up room. So this should be done very well in the lighting. The decor is meant to be a lampshade can use in your bathroom and kitchen.

- Stay away from glitter because it will show the slightest exaggeration in your studio apartment. Colourful designs can bring a negative image to your home.

- Must be a plant live in your studio apartment. It is possible to use as decorative plants. As well as energy per environment beautification will be a maximum.

Studio Apartments for Rent Budget Based Living

Which are preferred by people living alone studio apartments, decorated by an accurate possible because the big show. Practical and space-saving furniture is shrinking living space is preferred.

- Media spacious and light-colored paints to show transparent preference. If your decision to give up very quickly, you should paint your house white. Your wall a few tables, pictures hanging environment can revive. If you like wallpapers going can apply to only one wall.

- Unused second toilet, balcony etc. If you wear them can be converted into overhaul. Wide to narrow shelves wall space to hang your care. Very often you use this spacious shelves you can place your belongings. Choice of clothing does not have to go spend hours doing. You can put a small shoe, the part near the door.

- Kitchen is ugly does not mean that the slightest. Media is not large, if you want refreshment should in detail. Simply designed an elegant chandelier in the kitchen when the kitchen air changes immediately.

- Embellishments that you have placed with mirrors would look great in studio apartments for rent in New York. But it is very important to adjust the angle of the mirror.

- Bulky and do not contain unused items in your home. Instead practical items that you use consistently prefer. Storage space must accommodate increasing unnecessary belongings there. In this way, the house becomes more spacious and livable. Basal beds for the bedroom should be preferred. You do not use duvets, pillows, blankets can maintain under this bazaar.

Change Our Living With Studio Apartments

Advantages of Flat 1 +1

1) 1 +1 studio apartment for rent in New York rental housing compared to the slower. However, longer-term rentals are occurring.

2) Demand is always higher than in the studio. The reason for this, paying a little more for a room than those who prefer to have more of.

3) accept privy to the bedroom, open to anyone who could not accept that the New York people definitely prefer 1 +1.

4) Single Living, newlyweds and families with small children are showing interest yet.

5) Big house in the doldrums, the family prefers older couples declines.

Thus, there is no need to section the corridor , or a separate switch and the area is used conveniently. One bedroom apartments are ideal if the room height is 2.70 m. Comes to decorating the area more suitable for use in the closet, a desk, folding work surfaces, goods shelves, cots under the drawers or pull to use another bed, kitchen or bed portion separating a decorative screen is recommended.

Advantages of Studio Apartment

1 ) Studio apartments can be rented easier than square meters large apartment. 1 +1' s from even renting a price close to the greatest advantage. 1 +1' s from  500 USD per tenant, while another 450 USD studios can be rented at the same site.

2) Many site fee is calculated on the basis of square meters. Accordingly, the area is small studio in fees is lower.

3) Heating, cooling, lighting, water, electricity charges as cheaper. Even factors as well as saving money, saving time by minimizing cleaning hours provided.

4) square feet of studio apartments for low cost 10 percent less than that. According to the terms of the selling price of 1 +1' s more convenient. So even though the cost is high, a lower sale price. For this reason, although not attractive in terms of construction companies, consumers extremely attractive terms.

How To Efficiently Use studio apartments ?

In addition to the size of an area, the shape is also important. General rule, the closer together the lengths of the edges, the easier it will be to assess the direction of the field. One bedroom apartment, if you have two sides facing outward, to receive light from all directions is considered to be in a privileged position. The entrance door of the one-bedroom apartment in the middle of a large edge over the need to recognize the opportunity to enter the apartment. 

Renting an Apartment in New York City

Seeing the need for this project investors and real estate manufacturers also began to serve this goal. Recently, almost all of the projects implemented in 1 +1, 1 +0 and studio apartments available. In the same way the great square, which has a beautiful view of the city, even millions of dollars paying elitist apartments and studio apartments 1 +1 can be preferred.

To the big cities of the civil servants assigned to a certain period of time and pay rent to the end of his term as well as to profit from the purchase of this kind is observed that prefer apartments. At the same time, which is indispensable for students small area apartments, can economically provide convenience.

In addition, this type of small apartment to make premiums more quickly, more easily bought and sold in the secondary market allows. So apartments are able to subsidize the costs in a shorter time. It also intending to change hands more attractive to investors will accelerate the movement of the money comes from.

More common in metropolitan cities and preferred studio apartment 1 +1 and appeals to many different segments. Especially in areas close to universities 1 +1 and 1 +0 apartments are preferred by students. In the city center or near airports while the small circle of businessmen using more often. Companies generally do not want to entertain guests at the hotel such as apartments guesthouses ratings are choosing to take. It also can be used as offices and meeting spaces.

How to Find Inexpensive Studio Apartments

Metropol in life brings many sanctions. Major cities in New York started to use 1 +1 and studio apartments, with the development of industry and commerce in other cities is increasing proportionally.

Seeking 1 +1 and studio apartment here!

Sever ties with the nuclear family and the family begin to lose the effect of cohabitation with tradition, for economic reasons as well connected small circles began to be preferred. Nowadays he mentioned in solo living in small homes with this life style, less populated families living under the same roof and sometimes even office and home needs are met. Accordingly, rents, fees, allowance, electricity, water and gas bills also subside.

Mainly due to economic reasons, investing in small apartments that seems, now began to be preferred. Used to handle more work in less time and dwellers living in this way, and their preferences are happy with tiny square meters, the cost of a lack of investment in small apartments can do even without. So for the same price 2 +1 or 3 +1 while there is also the opportunity to find apartments , residences and many investors to benefit from concierge services and more luxurious live and studio apartments for 1 +1 may prefer .

The biggest problem people almost to urban produced as a mitigating such structures, busy working, living alone, children or families with children are attracted to one. For these reasons, in recent years this small area, 1 +1 or orientation studio apartments are on the rise.

Viewing a New York Studio Apartment

Furniture compartment

Space without walls in an apartment is not easy to arrange. For this, different areas with high and low book shelves, drawers, cupboards, even flowing from ceiling to floor curtains can be used. Two-sided bookshelves, placed on a raised platform from the ground, sitting in a pleasant venue creates differences . In addition, various types of flooring can also do this with. Resin in a place , a place of concrete, using wood floor can differentiate in one place. Thus, this vast area would be divided into smaller units in itself. Of course, this combination bath and bed parts you will need to allocate more prominent walls.

To focus on life

When decorating the question is how you need to focus on is whether you want to live. A large sofa, chaise lounge chairs resembling, perhaps, like a piano ... It's how you live and how you're comfortable here. Dining room table to use as a large area around the chairs, maybe this area separate from the rest of the apartment can be used to create an image of crystal or Plexiglas separator will be nice. Kitchen can be separated from the main area by a half wall. Thus a kind of apartment you would have gotten in the air. Kitchen designed like a small peninsula that are arranged around a high high stools at the breakfast table and also can separate from the rest of the house.

My studio apartment

High-ceilinged living spaces can be used in many ways. As mentioned above, the target of a furnished studio apartment away from stress as much as possible, allowing you to relaxation will give you peace of mind is to create a living space. Floor and wall coverings to be used in wood veneer and will increase this feeling better than good. Which is important in the same way the whole floor to floor in a way, is to create a sense of mobility.

Know More About New York No Fee Studio Apartments

Here I'll offer you a wide range of recommendations for studio apartments and old industrial buildings converted to residential living space formed by the applicable. Which makes it distinct areas, huge and endless creativity to provide opportunities in an area without walls.

Large windows, open a vengeance in such an area that's not even fall in love at first sight. Especially if there is a high ceiling. So a family can live insuch an area? Of course. Anyone in the area can live in harmony.

Should Restore iterative?

Obtained by converting old industrial building studio apartments not plastered brick, rustic stucco work, are seen as pipes loveliness. This type of storage can also choose to details. For this, you need a large amount of glass and steel will be. Because all those walls have to be covered. As well as design objects, you can use the resin and cement plaster. Of course you want straight, while an immaculate image. Or your view of the structure of the post-industrial underscored, and it can be used as a design element. One thing you need to do, to repair the broken bricks, pipes spend hand to paint the floor, leave it in its original form as possible.

What Are The Types Of Apartments Available?

People go to New York for different reasons - while some go for pursuing educational degrees and diplomas, there are others who visit the place in a work related tour, and there are still some people who head for the city to have fun during their vacations. Whatever be the reason, there is a constant flow of people in and out of Brooklyn. 

New York apartments thus have a huge demand these days. These apartments are either rented as vacation rentals or are bought as long and short term furnished properties for corporate stays. Here is a short list of the apartments that are available to you in New York, especially in Brooklyn. New York apartments can get cheaper and profitable with a good agent to assist you in the deal. Let's see who can opt for these apartments and what are the facilities and amenities available...

1. Vacation rentals: These are well furnished apartments that are rented out to the tourists. These are also called holiday homes. It can either be a condominium, a cottage or a townhome. If you are planning for a trip to Brooklyn in New York, apartments should be booked only through a realty service management company. By doing this you can ensure that the apartments you are renting is a cornucopia of luxurious amenities. It should also comply well with your ideas for a perfect vacation in New York.

2. Sublets: Such rooms are also known by the name 'sublease'. If you are looking for a place to stay for a short term, you should search for sublets. As you can get this apartments on a third party rent, it is a cheaper option for you. However, check for the specific terms of renting that are associated with each of these apartments. If you have no idea regarding the legal aspects of sublets in Brooklyn New York apartments should be bought only under supervision of a service management company.

3. Corporate apartments: If you are on an official tour to Brooklyn in New York, apartments you rent should have all the amenities, which would enable you to work or held meetings and seminars in the hotels itself.

4. For Sale: If you are making plans to reside in the place, a service management company can make your search for a perfect home easier. You can provide your preferences and can take your pick from an array of options that are available at the websites of such a service provider.

Studio Apartments - Have A Great Time

New York has always been a popular tourist destination. The Statue of Liberty, The Metropolitan Museum of Art, and The Empire State Building are some of the famous tourist sights that are located in this city. Apart from the sights, New York is a cornucopia of pleasure and entertainment comprising various art galleries, museums, shopping centers, and nightclubs.

Are you planning a vacation to New York recently? If yes, then you are in luck because there are various rentals available at extremely affordable prices. These apartments are available to tourists in a completely furnished condition for 3-35 days. Kitchen utilities and clean linens are also provided to them. Some apartments are equipped with cable television and computers with Internet connection. The decor is classy and elegant and are perfectly in sync with the ultra-glamorous theme of the city.

If you are looking to stay in the city for a while due to work, you can opt for the long-term apartment rentals. Some rentals are also unfurnished, where you can bring along your personal belongings and furniture. Before you choose a certain place, make sure that the locality is safe from vandalism and other crimes. There should be a good public transport system located nearby so that you can travel to your workplace easily. Banks, medicine shops, and post offices should also be situated at a convenient distance.

For students too there is no dearth of options in New York. Students typically want a decent apartment with modest necessities at a cheap rate because they are generally on a limited budget. There are many roommate shares that you can go for. Sharing with a roommate will ease the financial burden slightly as the cost will be split evenly. Currently, Brooklyn is a hub of colleges and universities that is attracting students from all over the world. Apartments which are located right next to the campus will be suitable for students since they don't have to travel far.

It will be like a virtual tour where you will get a feel of being inside the apartments. Bed-and-breakfast, short-term and long-term rentals, and roommate shares; everything is available right here. You don't need to wrack your brains about accommodation in the Big Apple any more because Metro-Homes properties are at your service!

A Guide To Find The Best Apartments

New York or the "city that never sleeps" is today one of the major epicenters for education and business. A survey by the US Census Bureau in the year 1999 had revealed that about 40 percent of the city's 7.4 million residents are immigrants. 

However, with so much competition, the city is feeling a serious space crunch but, finding a place to stay in is not that hard. While you must be thinking that you can search out the real estate agents from the Internet easily, but, clicking on all the websites of every real estate agent is time consuming and confusing. Therefore, the shortest and the most effective way to search out a suitable NY apartment is to contact a real estate service management company. 

The main function of these agents is basically to act as a liaison between the realtors and you (the buyers). Property service management is the amalgamation of the systems, processes, and manpower required to manage a real estate business whether an acquisition, accountability, control, utilization, maintenance, responsibility, and disposition. In short, the roles of a service management company can be summed up as under:

1. As mentioned earlier it acts as a bridge between the sellers and lenders of NY apartments and the buyers who are willing to make a deal with those. Basically the agents are representative of the buyers to sellers and vice versa.

2. The duties of such a service management company is to accept rent, responding and to the maintenance and repair issues.

3. Such agents also provide a buffer for those landlords who stay far away from the tenant's constituency.

4. One major role of the service management company is to control the accounts and the finances, calculate the rents and negotiating the prices.

5. They also participate or initiate litigation with the tenants, owners, insurance agencies and contractors. Although these agents hire an experienced attorney, s/he sometimes even works under a service management agent.

How To Choose A Studio Apartment

Apartments in Brooklyn, New York can be an attractive option if you are looking for an affordable area to stay in. Citi Habitats reports that apartment rents in Manhattan rose by 5.9 per cent and rent concessions fell in the fourth quarter. This was an outcome of rising demand due to reduction in unemployment. Brooklyn is a more affordable option by contrast, as rents for apartments here can be a third less than those in the city.

An online estate agent can help you find a suitable apartment here. Here are some points to keep in mind while you are apartment hunting in Brooklyn, New York-

* Apartments which are shared may be more affordable. You may think of getting a room mate if your budget is limited. Whether you choose a friend or a stranger, be careful to evaluate how easy or difficult the person will be to live with.

* Choose a person with similar habits to yours. If you like to sleep early and your room mate likes to party, you may have to stay up to let him or her in.

* Impress your landlord by being proactive. Bring along your credit history as well as a current credit report to facilitate matters.

* If possible, ask your previous landlord to write a letter of recommendation. In any case, bring his or her contact information, so that the landlord's job is simplified.

* When you visit a landlord, ask about the duration of the lease. Also ask about the renewal policy.

* Confirm the size of deposit you're required to make. Another important question you should ask is whether utilities like water, gas, and electricity are included in your rent.

* In case you don't use the apartment for a while can you sub let it? Also find out what are the security provisions in the building.

New York City Rental Requirements

Renting an apartment in the Manhattan rental market is like no other place in the world. You need to be educated about the NYC apartment rental market as well as the new york city apartment rental building requirements. Every NYC apartment rental building has rental requirements, below are the general requirements.

In general, requirements to rent in New York City are as follows:

1. There is an application fee for each person that rents a new york city rental apartment anywhere from $50 to $125 depending on the new york city rental building. If there are any guarantors, the same fee applies. The application fee is non-refundable and covers running of credit for all applicants and/or guarantors.

2. The income requirements are anywhere from 40 to 50 times the rent of the NYC rental apartment. For example - if the NYC apartment for rent was $2000 x 50 = $80,000 - the applicant would need to earn $80,000 to qualify for the apartment. If there are guarantors, the income requirements are anywhere from 75 up to 100 times the gross rent on the apartment. For example - if the NYC apartment for rent was $2000 x 75 = $150,000. If the applicant and/or guarantor are short on the income, additional security may be necessary.

3. In order to verify your income, many Manhattan rental landlords require your last few pay stubs and/or Letter of Employment on company letterhead which indicates the applicant's and guarantor's title, salary and length of employment with the company. If you are self-employed, a letter from your CPA may be necessary indicating your earnings for the previous year as well as your projected earnings for the current year.

4. In order to verify you have sufficient assets, some Manhattan rental landlords require your last few bank statements. Some Manhattan rental landlords require a certain amount to be in the bank account.

5. Some New York City rental buildings require your last year's tax return to verify your income.

6. If you rent, some new york city rental buildings require a landlord reference letter or last few canceled checks to verify that you've paid your rent on time.

7. All buildings require a form of identification which can be a driver's license, passport, etc.

Searching For Studio Apartments?

Rising demand has made it difficult for people to find an apartment which is affordable and pleasing at the same time in New York. Recent development may add to tenant woes. 2011 is a big year for tenants in New York. On June 15, the state laws governing rent regulations, which mostly affect New York City, will expire unless the legislature and governor successfully broker a deal to renew them. These regulations protect tenants from being evicted without legal case, and give them the right to renew their leases. In case these regulations are not renewed, tenants may have to engage in more frequent apartment hunts.

Whether you're a first timer or a veteran at scouting for apartments in New York City, apartment websites can help you find your dream property. Here are some pointers which can shorten your apartment hunt-

* In case you want an apartment from which public transport is more accessible, you may have to pay more. It may be a good option, if you're always rushing to work.

* Living with a room mate means that you can save on rent and split the costs of utilities like cable, food, and internet.

* Many landlords require you to earn a sum which is forty times the monthly rent for the apartment. Keep this in mind so that you only look for apartments within your price range.

* Some documents you will need when you find an apartment to your liking are pay slips, proof of employment, and tax forms.

* Know your tenancy rights before you sign the lease. A written lease gives you protection in case the landlord suddenly decides that he or she wants you to vacate the premises.

* Check whether the lease mentions the figure agreed upon, the correct address, and landlord. It should also mention all the amenities you are entitled to.

* Your lease should also mention by when you have to pay your rent. What is the penalty if you're late with the rent?

* In case you want to keep a pet, check whether you're allowed to do so under the terms of your lease. Other special provisions you should check for include restrictions on guests and running a home business.

Tips On Finding An Apartment

NY apartments can be very expensive. Landlords can take advantage of the scarcity of apartment by cutting corners when it comes to observing safety regulations. Help is at hand however in this matter. The Department of Housing Preservation and Development announced the Proactive Preservation Initiative and Mayor Bloomberg signed a bill to expand New York City's program for pressuring apartment landlords who have multiple safety violations. The city expects to target five hundred distressed buildings in 2011 with the PPI. Choosing an apartment where you've checked beforehand that the landlord has obeyed safety regulations can ensure you won't have to suddenly look for an apartment.

If you're not familiar with New York, you may want to use the services of an estate agent. Apartment rental websites can also help you find your dream property. Here are some tips on choosing between various NY apartments-

* Walking around the city can give you a feel of the different areas. Depending on where you feel comfortable, you can scout for an apartment.

* There's little point in looking for an apartment more than a month before you can move in, because the previous tenant would require thirty days notice from the landlord.

* Depending on your budget, pick the amenities and location which you would be most happy with. This will help you search in a focused manner for an apartment.

* Another way to make your money stretch further is to look for a room mate. Decide what kind of a room mate you would be comfortable with, otherwise you may be cooped up in your room for hours together.

* Choosing an apartment which is close to a selection of modes of public transport can help you save on travel time and costs. Even if you're spending a lot on rent then, you'll feel less bad about it.

* Paying attention to your appearance when you meet your landlord can get you the apartment. First impressions count, so dressing smartly can pay rich dividends.

* If you bring documents relating to your financial information and contact numbers of previous landlords, you will make your landlord's job easier. You can move in that much sooner too.

* Remember to find out when you need to pay the rent every month. You can plan your finances accordingly.

While finding a suitable apartment in New York can be time consuming, when you do discover it you can live comfortably. Looking online can simplify your task. Metro-Homes Properties has a range of NY apartments, so you are sure to find one within your budget which you like!

Tips For Seeking The Best Apartments

With overflowing population and ever increasing immigrants to the city, finding suitable apartments in New York City is a task that is hard to accomplish. According to a recent report in about 14 of the 25 metropolitan areas in US, including New York, more immigrants are employed in white color occupations than in lower-wage construction. This is considered to be the main reason for this huge demand for luxurious residential apartments. However, it is also not impossible to get a good one for staying in. Here are certain steps that you should follow to get an apartment that you have always dreamt of:

1 There are various ways in which you can search for apartments in New York City. You can search over the Internet or can search for a suitable option in newspapers. You can follow up different notices and advertisements for real estate rents and sale related information. However, the best and the shortest way you can reach up to a real estate dealer is through the websites of realty services management companies. These service providers generally have a large inventory of real estate information. Whether you are a student seeking for an apartment or a corporate entrepreneur touring the city on a business purpose; you will be able to find suitable apartments in New York City, which are complete with all the basic facilities and amenities that you desire. Even if you are searching for apartments for leasing or buying, these websites would be really helpful.

2 Once you decide on the amenities that you'd require on your stay at New York, it's time to check it with the realty company. Make sure the apartments you are negotiating for has all the facilities like electricity, water, safety. There are service providing companies who can assist you to check if the apartment you are renting needs any repair or maintenance. In case there is a requirement to fix a problem, these service providers would communicate with the owners on your behalf.

3 You should also make sure if the surrounding locality and the neighborhood is good enough for you. You should also make sure that you have nearness to the bus, train or airplane terminus and other facilities that you'd require.

Tips On How To Find Cheap Apartments

New York apartments are currently in demand because of high housing rate that would suffice for the big apple lifestyle and experience. Many people say that it is very difficult to find apartments in New York City because most of the time they are very expensive and already occupied. So, if you are one of those people seeking for a flat in New York City, there are several things that you must know and consider in order for you to find an affordable place for you and your family.

One way of finding affordable apartments in New York is through the Internet. The Internet has become the best place to locate New York apartments for rent since the past few years. There are many benefits of browsing online apartments, and one of these is that you will be able to view the vicinity and the interiors of the apartment. Besides the aforementioned advantages, you will also be able to save more money and time because you do not need to go to New York just to find the apartment that you are looking for.

There are vast selections of apartments in New York over apartment listings. These listings offer reviews of the apartments, which you must read in order to know the specifics of the house. It is necessary to know the background of the apartment before you buy it. One wise thing that every apartment seeker should do is to compare the prices of the apartments. Through this, you will be able to estimate the rates and you could choose the most affordable one.

There are other ways to find affordable New York apartments for rent, and one of this is by looking for apartments through certain people you know. The word of mouth is still a reliable way to know and discover things. Thus, you must have determination in finding cheap apartments by asking the people you know could help you. Your determination to find a cheap apartment will be your drive to find one in the future.

Going through various apartment listings sites is the best way to find New York apartments. However, you must not limit your resources when looking for apartments. Try to look in other places which you know could contribute to your search. Try to search on the newspapers and ask your friends if they could recommend any good apartments within New York.

New York City Rent Stabilization Laws

Being both a real estate attorney and a real estate broker in New York City I have had the privilege of working in a vibrant field in one of the best real estate market in the world. Having been born and raised in New York I sometimes forget just how confusing New York City's rental rules and regulations can be to an outsider, and even to those New Yorkers renting for the first time.

New York, and specifically Manhattan, is and will always be a renter's city. Because of Manhattan's geography and population it is extremely expensive to buy and own property, which has given rise to a rental market and vocal rental advocacy groups. Renters in New York can expect politicians and community organizations to speak on their behalf. Not to be outdone, Landlords in the City have also banded together and have formed powerful lobbying groups. Every year these groups meet to debate and decide annual rental increases for apartments and thus help decide the financial fate of millions.

The current New York system of rent control came about in 1943 under the watch of the federal government and switched over to state control in 1950. There are different types of rent control classifications, with each investing certain rights to the tenant.

The term Rent Control specifically refers to the situation where a tenant has lived in the same apartment since July 1, 1971. Typically this only applies to building built before the mid 1940's and it is not uncommon to find tenants who have lived in the same apartment for decades. When an apartment is rent controlled, the landlord is extremely limited in not only what they can charge for rent but also in how much they can increase the rent. It is not uncommon to find rent control tenants paying hundreds of dollars for an apartment that, in an open market, could be worth thousands.

Another common type of rental situation is Rent Stabilization, which occurs when the legal rent of an apartment is below $2,000.00 per month. Once the legal rent of an apartment rises above $2,000.00, and is vacated, the apartment is considered decontrolled. The NYC Rent Guidelines Board meets every year to set the legal annual rent increase for rent stabilized apartments.

Renting in New York - The Ultimate Class System?

President Roosevelt signed into law the Emergency Price Control Act (EPCA), which marked the beginning of rent controls in New York City. New York law allows the rents on these homes to be raised by only a tiny percentage each year. Today, over one million such apartments, called rent-stabilized or rent-controlled apartments, are rented at rates that are based on 1943 prices, rather than today's market forces.

Roughly speaking, as long as a NYC resident stays in a rent-controlled or rent-stabilized apartment, he or she will never have to pay the fair market rent. Since even the average studio in Manhattan with no amenities rents for $2,100, people who are enjoying the huge financial benefit of rent-controlled apartments, which are typically less than half-price, hold onto them like manna from Heaven.

So tenants spend their whole lives in the same apartment, and move their kids in before they die (since rent controls can be passed on to the second generation). The effect of all this is that there is an extraordinarily low number of vacant apartments available for people who want to move into New York or within New York. Today's vacancy rate is a meager 0.5%.

This suppressed supply combined with the very high demand you'd expect for any world-class city like New York means that the few units that are available are priced artificially high, and the landlords can be extremely picky about who to put in them.

Landlords require that their new tenants meet very strict conditions. When people come to Manhattan for the first time, they will be shocked to find that they will have to prove annual income of at least 40 times the monthly rent. In other words, unless you earn $120,000 a year, don't even bother applying for an average one-bed with no amenities - because you won't be considered.

You won't be considered - unless of course you have a rich mommy or daddy to act as Guarantor. But they had better be truly well-heeled, because they'll need to show annual income of $280,000 a year to get their child into the same apartment.

5 Tips To Rent in Manhattan, New York

1. Timing is Crucial

The housing market is very competitive, especially for those hard-to-find affordable apartments. Be prepared to make decisions quickly since it is not unusual for units to turnover in a single day. Start your search no earlier than four weeks before your desired move-in date and be flexible by a week or two with your plans. Make apartment hunting your life for two or three weeks - that should be enough time to get familiar with the market and what you are looking for.

2. Focus Your Search According to Your Budget

New York City is an expensive housing market and you will likely be forced to make compromises in your choice. Monthly rents will vary depending on several factors; the most important of which is location, followed by apartment size and then amenities.

Consider Where You Can Afford to Live - Manhattan apartments are in the greatest demand and consequently rents are the highest here compared to other boroughs or nearby suburbs. In most areas of Manhattan, you will have great difficulty finding a studio apartment for less than $1,400-1,500 per month. In contrast, there are areas just outside Manhattan (within a 30-40 minute commute) where you can find a decent studio apartment to rent for $850-1,000 per month.

Determine What Size Apartment Fits Your Budget and What Amenities You Can Do Without - Squeezing into a smaller apartment than your ideal and a willingness to accept some commonly perceived flaws such as lack of view or natural light, street noise, etc., may save you some money. In addition, rents will vary with the type of building in which the apartment is located such as, whether or not the building has a doorman or an elevator.

Decide If You Are Willing To Share An Apartment - You can sometimes cut costs by sharing a large one bedroom, where you can build a wall in the living room to create a second bedroom for your roommate (management allowing, of course).

3. Methods of Searching - Fee v. No Fee Rentals

If you can afford to pay a broker's fee, searching with a broker is highly recommended for convenience and is the most common way of finding an apartment. Brokers often have access to good rental options, can guide you in your search, and make the paperwork easy for you.

Brokers charge a commission for their services. In Manhattan, expect to pay between 12-18% of the year's rent, typically 15% of the year's rent as a commission. That means if your rent is $1,000 a month, the broker's fee works out to $1,000 x 12 x 15%, or $1,800. Fees outside of Manhattan are usually less, ranging from one month's rent to 12% of the year's rent. The fee is payable only at the time of lease signing.

The larger Real Estate firms have Web sites where you can search their listings in advance of contacting them. You can also check their most updated listings in the classified ads in The Village Voice, The New York Times.