When looking into the New York City real estate market, there are many different types of housing options to be educated about. There are co-ops, sublets, apartment rentals, condos and home ownership. Understanding the difference between the different types of rental opportunities (co-ops, sublets and apartment rentals) will help you to navigate your way through the housing market and narrow it down to help you find the best fit for you. http://onesixtymadison.com/nomad.php
Renting from a co-op has some unique hoops to jump through comparatively to the other rental options. When renting from a shareholder within a co-op, you will have to be interviewed and reviewed by the co-op board in order to inaugurate your residency. Along with filling out the financial paperwork and lease agreement, there is answering a list of questions that need to be answered that help narrow down the right tenant for the space. This takes place for each and every person who moves into a co-op property.
Apartment rentals are the most common thing to come by in New York City. Apartments for rent in the Flatiron District, NYC are in a great location with easy access to all of Manhattan. Finding rental options in the heart of Manhattan aren’t too hard to find. The trick is finding quality living at reasonable prices. The process for renting an apartment is significantly easier than renting in a co-op building. Most apartment rentals in the Flatiron District require nothing more that the common paper work that is required for all rentals in NYC.
Finding a sublet rental is ideal if you are looking for a short-term rental situation. If you are looking for less than a year, taking over someone’s existing lease is a great way to go. This is a flexible option comparatively to most apartment buildings require at least a 12 month lease agreement. The Flatiron District’s real estate market is constantly moving and turning over new sublet opportunities. When it comes to these kinds of listings there is a higher rate of scamming that takes place then with apartment rentals.
When pursuing the real estate market in NYC knowing the difference between co-ops, sublets and average Flatiron District apartment rentals will help you weed out the best housing options for you and the lifestyle you live.