Anna Weng • The 4 Things You Must Have (Non-Negotiable!) Before Searching For An Apartment
April 18, 2018
You found the apartment of your dreams, but in New York, good things don’t come to those who wait. Bold agent Anna Weng advises that you have your paperwork in order and ready, even before you set out to go property hunting.
“Don’t wait until the last minute,” she advises. “Don’t wait until you find an apartment to get all of your paperwork together, especially in the summer, when things go so quickly. Once you start looking, have all of your paperwork ready to go.”
That paperwork includes the following:
● your most recent tax return
● your bank statements
● your letter of employment (which is the one doc we all wind up waiting for)
“People don’t always anticipate how long it takes to prepare that paperwork,” Anna says, “especially letters from employers. Some employers may need 3-5 business days to process your letter of employment. In real estate, that’s like forever.”
If you’re not ready with your paperwork, the apartment of your dreams may be scooped up by somebody else in a New York minute.
“You may no longer have the advantage of being first in line,” Anna says.
If you’re prepared, all you need to do is apply, and Anna can help with that.
“Don’t be intimidated,” she advises. “If you are working with a broker, it’s their job to help you out with the application process and the paperwork. That part seems to be the most daunting, but once you know what you need to give, it’s really not.”
If you work for a larger company, your Human Resources department should be very familiar with the process. The content of the letter should include:
● your position
● how long you’ve been there
● your annual salary
“Once you have that ready,” Anna says, “the rest is pretty simple.”
That’s when the fun begins. Anna says there is currently plenty of inventory for every kind of budget and property type.
What people have been asking for currently: lots of natural light. And space.
“I live in New York as a renter as well,” she says (in busy, bustling Herald Square) “I live in a studio that gets zero natural light. It’s just not something I care about. For me, convenience is key, so I’m willing to go in there and live in the heart of it all. Some people may not mind a fourth-floor walk-up, but they may not want to live in a neighborhood that is so touristy; they may want to live in a quieter, more residential neighborhood, which is what I specialize in.”
Being that it’s New York, another big concern is always space (or lack of it).
“If people wind up not renting something,” she says, “it’s typically because of a space issue. And, gosh, you can never get enough space in New York. Here, space is relative. It’s all about trying to figure out what people want based on what they can afford.”
Her rule of thumb when showing apartments: don’t assume to know what everybody automatically wants.
“I may show an apartment to ten people,” she says, “who may all dislike the same one thing, but then the eleventh person comes in and they don’t care about that one thing at all. It’s just about maintaining the perspective that everybody’s needs are different. Eventually, there will be somebody whose needs fit the apartment that you’re marketing.”
Her specialty: smaller, boutique apartment buildings and walkups, the kind that don’t have doormen. That type of niche market needs assistance and navigation from an expert.
“You have to have a broker to find those kind of buildings,” she says. “You can’t just walk into a building like that and lease right on site.”
Smaller buildings definitely have pros and cons, but Anna focuses on the pros.
“In a six-floor walk-up, you’re going to develop killer quads!” she points out. “No gym membership needed. You’ll also get great light, which you won’t get on a second-floor apartment.”
She works all over the city, but she specializes mostly in downtown properties. The Malvern, PA native has lived in New York for eight years and has been with Bold for about a year (“It’s super collaborative; everyone is really supportive!” she says).
“There is no other rental market like New York,” she says, “and I really wouldn’t have it any other way. I really love real estate and I love Bold, so no complaints.”
Click here to contact Anna.
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