Renting in New York is unlike most other areas in the world! Primarily because the rental process itself is not standardized. Meaning, the requirements will vary slightly from landlord to landlord. Below is the step-by-step, easy to follow outline of the entire process and typical requirements to successfully rent an apartment.
Virtual Open House
Using dynamic, agent-guided video promoted via digital, mobile, and social channels, we can showcase the key features of your property to interested clientele wherever they are.
Private Interactive Home Tours
We can take buyers on a virtual journey through any home with sight, sound, and motion to expound on the unique features of the home. Buyers can easily provide feedback via live video, text, or emoticons that can be easily shared with agents and sellers.
Virtual Neighborhood Tour
Selling your home will be a "virtual walk in the park" with Compass' Virtual Neighborhood Tours. Buyers and their families can explore new neighborhoods and experience all that the community has to offer with snapshots of key attributes of the neighborhood.
Dynamic Digital Listing Brochures
Pages will turn, videos will play, home features will come to life with interactive brochures that create a dynamic, immersive experience for even the most discerning of buyers.
Video Mail (V-Mail)
You've got mail! With embedded video, I can share captivating videos with my connections with ease. Videos will automatically play when an email is opened so buyers will never miss (or forget) their first interaction with your property. Not only will I see when they've started watching the video, but I'll also know when they've stopped watching — giving us additional insight on what is capturing buyers' attention.
Live Postcard
With an animated open experience and dream-like views of the most desirable features of the home, Live Postcards can surprise and delight prospective buyers. By sending these with the Compass CRM, I can track how many people actually viewed the postcard at any moment.
Digital Marketing + Insight
The Compass Digital Ad tool allows for the quick and easy launch of optimized Facebook and Instagram ad campaigns to promote your property to a highly targeted audience. We use proprietary Compass user data to target the perfect audience, a team of experts designs an engaging ad to showcase your listing, and our system optimizes the ad's performance with constant testing. Once your Facebook and Instagram listing ad is live, I can provide real-time, detailed campaign results in the form of a digital ad report. This tool allows me to act swiftly to market and sell your home with confidence.
Enhanced 3D Staging
Staging We've partnered with America's leading virtual staging firm to provide enhanced 3D staging that combines superior home staging expertise and high-end design with state-of-the-art virtual staging technology.
*The tools above are based on the assumption that there is pre-existing photography and video. Should you have a listing that requires new videography or photography, please contact your sales manager to ensure you are adhering to local restrictions around COVID-19.
Renting in New York is unlike most other areas in the world! Primarily because the rental process itself is not standardized. Meaning, the requirements will vary slightly from landlord to landlord. Below is the step-by-step, easy to follow outline of the entire process and typical requirements to successfully rent an apartment.
1. Call Douglas Elliman's Global Relocation Division at 212.350.5250, to begin your process. On this call we will review:
2. Upon conclusion of this call, your Douglas Elliman move consultant will assign the best agent to work with you to find your new home.
3. Your agent will search for properties based on your search criteria and budget.
4. Your agent will schedule viewings and accompany you to each apartment based on your availability.
5. Once you find an apartment, your agent will walk you through the entire application process and requirements.
Most landlords will require proof of sufficient income to satisfactorily cover the monthly rent as determined by the landlord and applicable law. Please keep in mind the requirements are not standardized so requirements can vary. Historically property management companies have asked for the following documents to the extent applicable. The requirements for your lease will be specified by the landlord at the time of application and are not the requirements of Douglas Elliman. If you have any questions regarding a landlord's requirement, you are encouraged to ask your assigned agent.
Upon receipt and review of the documents, the landlord will review the details and determine if the application will be accepted. Once it is accepted, they will outline the final payments due at lease signing. The approval process can vary from a few days to over a month, with the approval for a Co-op or Condominium taking the most time.
It's important to prepare the necessary funds before coming to New York. Landlords will not accept personal or out-of-state checks. They require certified funds. With this in mind, you should:
1. Try to establish a New York bank account before you begin your search so you can get funds easily.
2. If this is not possible, landlords typically request that you have available funds with you to cover first month’s rent and one month security.
3. Bring funds to cover the other costs in leasing an apartment which can include:
Note: Renting a condominium or Co-op can mean higher application fees and possibly a board approval process
If your salary level or available source(s) of income and total financial picture does not meet the landlord's requirements, you will need a co-signor or guarantor, to guarantee the lease. Landlords prefer a tri-state guarantor.
(Subject to change based on each management company's requirement):
1. Income of 80X the monthly rent, or other proof of source(s) of income or ability to pay rent.
2. Fully completed and signed application.
3. Bank account information (checking/savings) – 3 statements.
4. Tax return (First 2 pages)– last 2 returns.
5. Personal identification with photograph – e.g., driver's license or passport.
6. Names, addresses and phone numbers of previous landlord, or if applicable, accountant, or proof of ownership.
Upon Acceptance, at lease signing you will need the following funds:
1. First months rent.
2. Security deposit.
3. Brokers' commission.
4. Co-op’s or Condominiums will typically require additional fees such as a move-in or move-out fee. Pets may also require additional security or insurance.
Renting in New York is unlike most other areas in the world! Primarily because the rental process itself is not standardized. Meaning, the requirements will vary slightly from landlord to landlord. Below is the step-by-step, easy to follow outline of the entire process and typical requirements to successfully rent an apartment.
Virtual Open House
Using dynamic, agent-guided video promoted via digital, mobile, and social channels, we can showcase the key features of your property to interested clientele wherever they are.
Private Interactive Home Tours
We can take buyers on a virtual journey through any home with sight, sound, and motion to expound on the unique features of the home. Buyers can easily provide feedback via live video, text, or emoticons that can be easily shared with agents and sellers.
Virtual Neighborhood Tour
Selling your home will be a "virtual walk in the park" with Compass' Virtual Neighborhood Tours. Buyers and their families can explore new neighborhoods and experience all that the community has to offer with snapshots of key attributes of the neighborhood.
Dynamic Digital Listing Brochures
Pages will turn, videos will play, home features will come to life with interactive brochures that create a dynamic, immersive experience for even the most discerning of buyers.
Video Mail (V-Mail)
You've got mail! With embedded video, I can share captivating videos with my connections with ease. Videos will automatically play when an email is opened so buyers will never miss (or forget) their first interaction with your property. Not only will I see when they've started watching the video, but I'll also know when they've stopped watching — giving us additional insight on what is capturing buyers' attention.
Live Postcard
With an animated open experience and dream-like views of the most desirable features of the home, Live Postcards can surprise and delight prospective buyers. By sending these with the Compass CRM, I can track how many people actually viewed the postcard at any moment.
Digital Marketing + Insight
The Compass Digital Ad tool allows for the quick and easy launch of optimized Facebook and Instagram ad campaigns to promote your property to a highly targeted audience. We use proprietary Compass user data to target the perfect audience, a team of experts designs an engaging ad to showcase your listing, and our system optimizes the ad's performance with constant testing. Once your Facebook and Instagram listing ad is live, I can provide real-time, detailed campaign results in the form of a digital ad report. This tool allows me to act swiftly to market and sell your home with confidence.
Enhanced 3D Staging
Staging We've partnered with America's leading virtual staging firm to provide enhanced 3D staging that combines superior home staging expertise and high-end design with state-of-the-art virtual staging technology.
*The tools above are based on the assumption that there is pre-existing photography and video. Should you have a listing that requires new videography or photography, please contact your sales manager to ensure you are adhering to local restrictions around COVID-19.
In addition to buildings that cater solely to the rental community, there are opportunities for you to rent co-operative (Co-op) and condominium (Condo) apartments in the city, as referenced in the previously. The conditions attached to the leasing of these types of units are totally determined by the building and vary considerably. Your Douglas Elliman agent can guide you through that process.
A team of local agents and brokers who live, work and play in the Hamptons, let our expertise work for you.
