Document Sample
Mov Powered By Docstoc
					Moving to New York City

            April 2010 (rev 11/10)
            Christine Toes, M.P.A.
            Vice President & Associate Broker
            The Corcoran Group
            The Toes Team
• Christine Toes & Jasmin Abrol
  – Top 1% of NRT Brokers nationwide (out of
    43,000 agents)
  – Masters in Public Administration (M.P.A.) from
    NYU’s Wagner School (2005)
  – University of Virginia (1999)
  – Jasmin & I handle both Sales and Rentals
             Our Company
• Corcoran & Citi Habitats
  – Largest real estate company in Manhattan
  – 1500 agents, 25 offices, 10,000 listings in
    over 4,000 buildings
  – Larger than next 4 competitors combined
  – Coordinate all aspects of your move –
    movers, storage, locksmiths, furniture, ConEd,
    Verizon, etc.
• When do I start looking?
  – 20 – 35 days prior to move in date
• What paperwork do I need?
  – Employment/Offer Letter, 3 months bank & financial
    statements, 2 years tax returns w/W-2s, Landlord
    Reference Letter, Photo I.D., Soc. Sec. Card or
    Passport, 3 pay stubs
  – Parents (“Guarantor”) will need to provide the same
  – If you don’t want to provide tax returns sometimes a
    letter from a CPA will work
  – $50 – $75/person credit check; ~$300 deposit
    (refundable if you are not approved)
• You: 40 – 45 x monthly rent (can combine incomes)
• Guarantor: 80 – 100 x monthly rent
   – 1 or 2 Guarantors only, must be US residents
• Good credit (over 700)
• Within 24 hours of approval, be prepared to sign leases
  & provide the 1st month’s rent, 1 or 2 month’s security
  deposit, & fee for service in certified funds
• You will want to have a local bank account, landlords will
  not take personal checks
• If you do not make 40-45 times rent and do not have a
  guarantor, you will need to pay additional rent up-front or
  additional security, usually 3-6 months’ rent
               How Do I Begin?
• “Fee” vs “No Fee”
   – Some landlords are paying the broker’s fees, generally in areas
     with the most inventory (i.e. Upper East Side, Midtown West,
     Financial District), so we can show you apartments that do not
     have a broker’s fee
   – Fee is between $0 and 15% of the first year’s rent. You do not
     pay this each year
   – We offer UVa grads a discount of 12% (14% for “co-brokes”) on
     apartments that have a 15% fee
   – “No fee” apartments make up ~ 10% of the market, depending
     on the neighborhood, so you are significantly limiting your
     options by pursuing only “no-fee” options
   – Apartments with a fee are usually nicer than apartments with no
     fee, it is best to keep your options open! Perhaps look at
     $3000/month apts with a fee, $3300/month with no fee)
                How Do I Begin?
• “Craigslist –
   – Warning: Many brokers on Craigslist are advertising apartments
     that are rented or do not exist or they will show you apartments
     way over your budget. If it sounds too good to be true, it is!
• If there is one time you should use a broker it is for your
  first move to NYC. If you don’t know the neighborhoods,
  reputable landlords, subways, etc, and are pressed for
  time, using a broker makes the process much easier
• We can line up 6-10 appointments for you in a row in
  one day (please note that it takes hours to arrange keys,
  call supers and management companies, set up
  appointments with other brokers, etc, so please be
        Other Neighborhoods

• Neighborhoods frequently requested by
  recent graduates:
• Brooklyn: Williamsburg, Brooklyn Heights, Park
  Slope, Downtown Brooklyn, DUMBO, Fort
  Greene, Clinton Hill
• Queens: Astoria, Long Island City
• New Jersey: Hoboken / Jersey City
• The summer is the busiest time to rent an apartment;
  have all your paperwork
• Take notes on each apt – write down the address!
• All roommates should be there
• Plan to be in NYC for 3-5 days. Some apartments have
  NO weekend access, so at least one day should be a
  week day
• If it sounds too good to be true, it probably is! A legal
  bedroom should have a window and a closet
• “Winged bedrooms” = two bedrooms with almost NO
  living room
• Doorman vs non-doorman – this is really more of a
  convenience issue (dry cleaning/packages) than a safety
  issue – it may not be worth the extra expense for you
• Having a pet reduces the # of apartments you can rent
  by up to 70% (especially large / aggressive breed dogs)
• Some buildings allow temporary walls, which are approx
  $1,100. (The Wall Company or Living Spaces are two
  popular companies for temporary walls)
• Look at 5 – 10 apartments & pick the best one
• Apply for 2-3 apartments because the good ones go very
  fast & you may be competing against more qualified
    Virginia Club of New York
• Plan to attend the Harriman Cup Polo
  Match (UVa vs Yale) in September. It is
  the New York version of Foxfield. We are
  also looking for committee members!
• Visit for information on
  the Yale Club and Virginia Club events.
For questions or to schedule an appointment, please contact us! We
have rented apartments to hundreds of recent graduates and we are
                   happy to help however we can.

          Christine Toes             Jasmin Abrol

          917.608.6973               917.535.9334

                        The Corcoran Group is a licensed real estate broker.
                        Owned and operated by NRT LLC.

Shared By:
fanzhongqing fanzhongqing http://