What To Know About Your NYC Apartment Lease

When you're renting an apartment, you're going to sign a lease alongside your landlord. While the vast majority of these rental agreements are undeniably similar, there are a few things that you're going to need to understand about it. This is true for all NYC apartments for rent and is something that you won't be able to escape. With that in mind, there are a few things that you should know before signing a lease; obviously, the rental fee is a major component, but there are several other things that you should read through and know about beforehand.

Fixed-Term Lease Or Month To Month
Many Chelsea apartments for rent and others may be a fixed-term lease; this is when you rent an apartment for a pre-defined set of time, such as six months or a year. At the end of that period, you can either move out of the apartment or agree to rent it for another pre-determined period. However, many properties will come with a month to month rent; this is when you agree to rent the apartment every month that automatically renews itself every month. Either you or your landlord will be able to stop the agreement whenever you want; while it offers more flexibility than a fixed-term lease, it does come at the price of being secure in your rental. These month to month agreements can also end up costing somewhat more per month than a fixed-term lease, so it's worth knowing which type of tenancy you'd rather go for.

Upfront Fees
Different apartments have different upfront fees associated with them. Some might be as simple as a month's rent in advance plus a security deposit that's similar to a month's rent. However, there are a variety of leases that add on other fees or charge more than a months rent for a security deposit. Because of that, you'll need to make sure that you know how much you'll have to pay upfront prior to signing on the dotted line as then you're liable for that amount.

How Loftey Can Help With Renting An Apartment
Loftey is one of the newest apartment rental websites to be released on the market, and it comes with a few benefits to using it. One of the most obvious of these comes alongside the upfront fees that you'll be charged for renting the apartment. Whether you're looking for Chelsea apartments for rent or anywhere else, Loftey will work with you to try to get the upfront fees reduced by the landlord. On top of this, they'll ensure that you won't have to pay these fee upfront; instead, you'll be able to pay them over a set period. Because of that, you are getting an apartment to rent can become a whole lot more affordable.

On top of this, Loftey actively works to reduce the overall rental price of an apartment. By building relationships with landlords and brokers, they've reduced the price of many of their apartment listings by between $25 and $200. These savings can also apply to listings on other sites, as the company will work with the landlord to increase your savings.

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