Seeking Help For Young adult relocating to Manhattan

[Anonymous]

Our adult child is moving from DMV to Manhattan. None of us have any experience finding an apartment. Academic career
so looking for a reasonably priced studio or one bedroom.
Adult child is looking now but their salary is so low we many need to cosign? Happy to do this but don't like giving out
financial information...can anyone provide advice? Thank you!

[Anonymous]

Not going to find anything affordable in Manhattan unless far uptown …

[Anonymous]

Yes, they are happy to do that. What we don't understand is the process for getting a lease, they need a broker? Need to prove
all funds?

[Anonymous]

Look at Long Island City, Astoria. Convenience of manhattan but can find something “reasonably” priced.

[Anonymous]

You should find a residential real estate broker to work with.

[Anonymous]

Look at streeteasy.com, lots of listings and no need to find your own broker. Some landlords will take a large security deposit (3-6 months) in lieu of a guarantor. Expect to pay security deposit (lowest is one month) + first and last month’s rent + broker fee (one month of rent - if they ask for 15%, try to negotiate it down) at signing. If you go for a luxury building, you can often get away with no broker’s fee. Look in Queens or Brooklyn for more affordable apartments, but pay attention to how far subway stops are and whether they’ll need to transfer.

[Anonymous]

Thank you, this is extremely helpful.