Winning the NYC Apartment Competition

What can I do to make my application stand out? I have good credit and a good salary, but I am still having trouble finding an apartment. I am getting tired of getting my hopes up, only to lose out.

Competing for a desirable apartment in Manhattan is tough. But when the market is tight, when there are more applicants and less apartments, even those with great financials and credit can have a rough time getting approved.

BE PREPARED: Many landlords operate on a first come first served policy. If your application is great, but someone who was there earlier has already been approved, you are out of luck. Take your approval folder with you everywhere.

BE PERSISTENT: If you love a building, but your application wasn’t approved, ask if you qualify for another unit. If it was simply a case in which your application was fine, but they went with someone else, ask if you can be on a waiting list.

BE PLESANT: If you are processing two similar applications, do you choose the rude couple or the ones that always sound friendly when they speak with you?

DON’T STRETCH: If you are applying for properties at the absolute limit of your financial ability to qualify, most landlords will take someone more comfortably within bounds. Apply for properties that aren’t a stretch.

CHECK YOUR OWN CREDIT: Make sure that you know everything that your credit report is showing. You may feel that you have great credit, but if an error on your report is bringing your score down, you may not be aware.

CONSIDER USING A BROKER: A broker may be able to help you get approved. A good broker will know what a particular owner is looking for. While the commission may be off putting initially, brokers can save you a tremendous amount of time and ultimately money by getting you approved quickly.

REALLY COMMIT: A lot of people complaint that they can’t find an apartment, but they only half heartedly look. If you are really dedicated to finding a place to call home, make sure that you commit to the process and make it a priority.

GET TO KNOW THE LANDLORD: If you don’t know what the landlord’s particular criteria, you may be applying to properties for which you have little chance. What are the landlord’s salary requirements? Are they strict on credit? Doing a little research can save you a lot of time, money, and heartache. The Nouveau Native’s No Fee New York Guide Books can provide invaluable insight into landlord and management company criteria.

originally posted May 11, 2007