Kids, this isn’t the apartment hunting we’re used to in Oregon.
It’s much different. Drastically different. And expensive.
Brokers = Broke:
Brokers (people you solicit to find you an apartment) are extremely helpful being that they’re so well connected. But they’re expensive. The fee they charge can equal 15% of your yearly rent or about 2 months worth of rent.
So now for a little math:
Rent for a studio = $1,300 x 12 = $15,600 per year x 15% brokers fee = $2,340
That’s $2,340 due UP FRONT. And that doesn’t even include 1st month’s rent and the security deposit (equal to 1 month’s rent).
[Insert explicative here] [Multiple]
This totals out to $4,940 and factoring in the application fee, we’re talking over $5,000 due by the time you even sign the dotted line. I don’t know about you, but I don’t just have that kind of money laying around.
Back to College:
Ask anyone who has lived here or has experience the apartment hunting process first-hand knows that if you want to find an apartment in Manhattan, most likely it’s going to be small. I’m talking dorm-room style small. And don’t let the pictures on websites deceive you: they look a lot bigger than they actually are.
Checking out a place in person is a must to know what you’re actually dealing with. One place I looked at appeared to be a decent size but when I checked it out in person, it could barely fit a twin bed. A twin. I may be a small and fun-sized person, but the last time I had a twin sized bed my room was painted like a jungle and I was in middle school. I mean, its doable, and I would if I had to. But that leads me to my other point…
Trade-offs – Choose You Own Adventure:
It is going to be damn near impossible to find an apartment that has all of the features that you want. So, you have to choose what apartment features are more important to you. Basically, you have to mix and match:
- Utilities included?
- Elevator vs. Walk-Up