Renting in NYC is wild! Sorry, that was harsh. But students who may be looking to relocate into any of the boroughs or freshmen who gained admission in the area have to face the hurdle of figuring out where and how they will live in one of the world’s most expensive cities.
With today’s guide, after we’ve unraveled a couple of things about student accommodation, you should be able to find affordable coliving apartments for rent in New York City.
Where Are The Best Neighborhoods For Students?
The great thing about the city is that if you look hard enough, you will always find a nice apartment to live in any neighborhood of your choice. Some areas are unquestionably more popular among students than others.
In Manhattan, the two neighborhoods where college students who live off-campus tend to flock the most are Inwood and Washington Heights.
For students attending Manhattan-based colleges such as Baruch and City Colleges, they are reasonably safe, inexpensive, and provide excellent commute choices.
In most situations, houses in Brooklyn are more affordable, but if you’re situated in Manhattan, it can be a bit of a trek.
Bed-Stuy, Bushwick, and Crown Heights are some of the more up-and-coming areas in Brooklyn that are popular with students.
For years, even students from NYU have been renting in neighborhoods as far as Bushwick.
While the Clinton Hill and Fort Greene regions have gotten increasingly expensive, they still attract a large number of students because they are home to several universities like Long Island University’s Brooklyn Campus, Pratt University, and St. Joseph’s College.
Jamaica and Flushing, both in Queens, have always been good options. It is, however, usually an extremely long commute.
They may be more suitable for students at St. John’s University and Queens College, whose campuses are located in those areas.
Concourse is a wonderful alternative for students studying in northern Manhattan or the Bronx.
Renting An Apartment: What’s It Like?
If you are lucky, dorming is a real possibility. Housing is a wonderful way for students to save a lot of money while attending college in New York.
Student housing, on the other hand, has a number of drawbacks that make it a bad choice for many students. Many institutions simply do not have enough accommodation for incoming students, and practically all colleges in the New York City area have strict rules concerning who is allowed to live on campus.
It is possible you may be left out because of some guidelines, or a shortage of rooms.
Older students may be uncomfortable sharing a room with those who are way younger. Most dorms also refuse to accept married residents or those with children.
Moreover, even if you meet the requirements for student accommodation, many dorms are incredibly old, overcrowded, and costly. Renting an apartment with friends can often be less expensive than living in a student dormitory.
In simple terms, renting provides you with a degree of freedom and privacy that you won’t find in a dorm room. Outside of school, renting an apartment or a room allows you more solitude and a sense of control over your lifestyle and environment.
What Are The Renting Requirements?
A valid identity card, such as a driver’s license, is required. You must also have a good credit score and be able to present proof of income
If you have trouble obtaining income proof or meeting the minimum income requirement, you might need a guarantor.
You’ll have a significantly harder time receiving rental approval if you make the most of your money through freelancing. You may be required to submit tax returns and jump through extra hoops in certain situations.
What’s The Required Credit Score?
Credit scores are a traditional metric for determining your likelihood to repay a loan on time.
They’re commonly used by landlords to ascertain whether or not you’re going to default on your rent. Credit bureaus examine your buying habits, credit usage, and loan payments to determine your score.
Your credit score rises as you make timely payments on your loans, bank cards, and other forms of debt.
Typically, credit scores range from 350 to 800, although some credit bureaus extend theirs to as high as 950.
People with credit scores over 700 are considerably more likely to be approved by landlords, with premier renters receiving top consideration.
As a student, however, it’s unlikely that you’ll have an excellent credit score. But it’s all right. If you have a credit score above 650, you are sure to get a landlord who could rent to you. Even then, it can be difficult, and you might need a guarantor to complete the transaction.
Who Is A Guarantor?
A guarantor is someone who signs a lease with you and guarantees that you will be able to pay the rent on time each month.
Guarantors typically used to be parents who could pay for the flat on their own.
However, you no longer need affluent parents to obtain a guarantor.
In New York, there are expert guarantor businesses that help college students obtain authorization for residences.
How To Avoid A Bad Apartment
Because of the current state of the economy, most students will have to overlook some things when it comes to amenities.
There are, however, a few things that you simply cannot do without in an apartment. Heating, safe equipment, electricity, and habitable conditions are necessary for every New York apartment. Building codes must be followed, and all units must be free of pests.
It would be a smart idea to look elsewhere if you spot something wrong with the flat right away.
Not all issues are instantly obvious, particularly when it comes to pest control or cleanliness.
Check the Bedbug Registry before renting to determine whether it has been recorded as having bedbugs or if the landlord is a notorious slumlord. This can save you a significant amount of time and money.
What Are The Probable Lifestyle Changes?
As a college student renting in New York City, it is almost certain that you will experience significant lifestyle adjustments. The most pressing issue is not partying or going to the grocery store, but transportation.
On many occasions, students abandon their cars due to the high cost of maintaining and parking them in the city.
If you are not ready to spend a ton of money on parking, you are better off taking public transportation.
Getting an apartment that is commuter-friendly is an excellent decision. Avoid residences that need more than a 45-minute college commute.
Some bills will be significantly more expensive than you thought, especially when it comes to food and drinks.
If you’re moving, it is crucial to move into neighborhoods that are close to food stores and laundromats. Taking a stroll to the grocery stores when you need to will help you save some cash.
As a student, moving into a new place can be an uphill task for varying reasons as you need to save as much money as you can and ensure your safety, but if you have gotten to this point, we are certain that it is going to be easier for you.