NYC Renting Disaster: Why I Wish I’d Known About Bedly

The standard requirements to rent a 12-month lease apartment in New York City are truly mind-blowing. I had no concept of it as a 22-year-old who was used to my $300/month rent for a shared 3 bedroom house in Montana, backyard, and garage included. The monthly rent alone is enough to make anyone gasp, then pile on the security deposit (typically one month’s rent), plus any additional months rent on top of it (I usually hear “plus 3 months rent”) to guarantee payment. That’s why I wish I had known about Bedly. The friendly team at Bedly wants to make finding an apartment in New York City, Jersey City, and Boston as simple as possible for YOU! With fixed term and month-to-month leasing units in multiple neighborhoods, they have plenty of options for everyone that will save you so much money compared to the usual process. You don’t even need to worry about any upfront additional months, as Bedly only requires first month’s rent and a security deposit equal to the month’s rent. Considering these are the minimum financial terms required to rent any apartment, you’ll be hard-pressed to find a better deal. In short, Bedly is the ultimate, money-saving option when leasing an apartment and, beyond that, provides fully furnished, freshly cleaned units to take the stress out of moving.

IMG_5714

“I need to provide more information to be a guarantor in NYC than I did to buy a home in Michigan,” he said sarcastically. If this doesn’t send a shiver down your back and make you squirm with disgust then you’ve probably lived in New York your whole life, to which I applaud you. These were the words spoken by my best friend and soon to be roommate’s dad when we were in the thralls of hunting for our first apartment in the city. While he may have been exaggerating, the point of the statement sticks: to apply as a tenant or guarantor in NYC means providing a lot of paperwork and a lot of cash.

We turned to my friend’s dad after being “homeless” for a month. We had lived for three days in a big two bedroom apartment in Brooklyn, hours away from where we worked and spent most of our time. Realizing we landed ourselves in a questionable neighborhood, we decided to vacate and find somewhere else. Not before panicking though, of course. We canceled the cashier’s checks and broke the lease, both of which I’m pretty sure are illegal, but we had complained enough that I think our brokers let it go…never heard from them again! Desperate times call for desperate measures.

IMG_5713

We moved into our friend’s apartment and shared a futon for the next month, living out of a storage unit and repeatedly getting rejected by one landlord after another. We still talk about how crazy that month was when we were essentially homeless and feeling helpless. New York isn’t exactly kind to newbies, so it’s a good thing Bedly is! With an age requirement of 18 or older, you only need provide a background check and two months rent (one for security deposit) and you’re good to go! You’ll even find out if you get approved almost immediately, so no waiting around for days to hear back about the apartment you really hope you’ll get approved for but have a hunch you won’t since, well, you haven’t been getting approved for anything else.

Credit checks are required for all renters in NYC. This proved problematic when my friend and I had zero credit. To be honest, I was terrified of ever getting a credit card and didn’t realize it’s almost impossible to live in this country without one…or at least live in NYC. Credit cards are one of those things I wish they’d taught us about in high school, ya know? Again, had I known about Bedly, I would have been golden. They only require a background check to rent an apartment, and since I’m no criminal, the process of approval would have been easy breezy!

In order to rent an apartment in NYC, you also have to make 40 times the rent annually. Obviously, this number is divided by however many roommates you have, but it’s still a steep hill to climb. Guarantors have to make TWICE THAT AMOUNT. Seeing as I had yet to find a job and my friend was a newly employed “front desk girl” at a fitness studio, along with the fact that we had no credit to boast except mass amounts of school debt, a guarantor was clearly our only option.  

IMG_5712 (2)

It seemed like an unfortunate circumstance – to have to ask our parents for help yet again at the ripe “old” age of 22 (or so we thought) – but we at least felt we could “guarantee” our place in an apartment. That was, until, my mom’s application was rejected time after time because she had bad credit. Her finances were more than fine, but the poor credit rating posed an issue. My friend’s dad begrudgingly agreed to be a guarantor, and while he had excellent credit, he didn’t make 80 times the rent. Back to square one and being an emotional wreck, having to consider moving back home. Since Bedly requires so little to rent an apartment, you don’t have to worry about needing a guarantor! Especially one that has more requirements than the person actually living in the space.

Lucky for us, the women we were working with as our brokers seemed to genuinely want to help us. Plus they were receiving a month’s rent for finding us a place, so rejection or not, they wanted to get paid. They had the bright idea of placing my friend’s dad as a renter rather than a guarantor, so he only had to make 40 times the rent rather than 80 times, and therefore qualified for leasing. I was placed on the lease as a tenant since my income and credit did nothing to help, and my friend lived there…illegally. Technically. Oh, and did I mention this was all for a studio apartment on the UES? After our stint in Brooklyn we paid particular attention to the various neighborhoods we wanted to live in and what we could actually afford in the long run. That landed us in Yorkville. We lived in a three story walk up and shared one room with slanted flooring and cockroaches to boast. New York City for the win…but really, what else were we expecting?
That’s just it. For many people, there is a romanticized notion of living in the city that is only boosted by shows like Sex and the City, Girls, and Friends, as the young characters live in reasonably sized, beautifully furnished apartments that they somehow afford by themselves. In the real world, this notion quickly dissolves when faced with the harsh reality of finding an apartment and actually living in New York. That’s what’s so great about Bedly. You can avoid all of this chaos by choosing to lease from them, plus you get the beautifully furnished apartment. With units in four neighborhoods in NYC, and also places in Jersey City and Boston, they are sure to have the right option for you! Not sure where to begin? If you’re unfamiliar with the NYC neighborhoods or want to know more, you can get some ideas on where to live here. With the only requirements being a background check, first months rent and a security deposit, Bedly provides a simple means to finding and leasing an apartment that is fully furnished and makes sure to meet all your housing needs. And even better? No need to try and contact your super or landlord to fix that leak in the bathroom. Bedly’s awesome customer service team is there for you when you have questions about anything in the house! So what are you waiting for? Check out their listings now!

IMG_5711

Photo credits in order of appearance: Urban Edge, Imgar, Make Meme, Urban Edge

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s