YOU HAVE BEEN APPROVED FOR AN APARTMENT, NOW WHAT?
By Kim Williams of Sovereign Associates
You've been approved for an apartment. Now what? Let's look at a few of the questions that can arise.
1. Leases in New York generally start on the 1st of the month, aligning with the standard 1st of the month rent payment schedule. However, what if my lease does not start on the 1st? Suppose my lease begins halfway through the month on the 15th? Will I only pay half a month's rent at the lease signing?
Answer: No, you will pay an entire month's rent at lease signing and a prorated half month's rent in the second month of the lease. This will get you back on a 1st of the month rent payment schedule for your lease term.
2. What if I need to move into my apartment a few days before my lease start date? My lease start date is Tuesday, but I don't have Tuesday off and can only move in three days earlier on Saturday.
Answer: If the landlord permits the early move, you should expect to pay for additional days in the apartment. Incoming tenants often assume that these days are free and are surprised when they receive a bill for the prorated rent. Like a hotel, unless otherwise stated, if you move in early, expect to pay for the additional days. The extra days are typically billed in the second month of the lease, though sometimes they are charged on the lease start date.
3. When can I expect to pick up my keys after the lease signing?
Answer: You will usually not receive your keys at the lease signing. The management will specify the day and time of the key exchange. It is typically the day of or the day before your lease start date.
Understanding these points will help to ensure a stress-free move to your new apartment.
Happy Moving!
