Well the springtime rental season is here and as usual that means there are more people looking for NYC apartments. While it is a time of increased activity rental prices have not increased as much as they have in prior years. This trend is due to a short term economic slowdown and less robust job market. Vacancy rates, while appearing to increase a bit, remain at about 1% indicating a very tight rental market. Nonetheless, those who are willing to spend a little bit of time and energy shouldn't have a hard time finding a great place. While vacancy rates are low, there is always a turnover - new apartments are always coming onto the market.
You are always better off starting your apartment search sooner rather than later as you don't want to be forced to make an important decision without having enough time to think it through. Nonetheless, you should have your priorities in order; what are the most important factors in an apartment for you (neighborhood, # of bedrooms, is it pet friendly, etc). Let any landlords or brokers with whom you are inquiring with know what is most important to you so that you can find that great NYC apartment!
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