The housing market is competitive, especially for affordable apartments. Be prepared to make decisions quickly and be flexible by a week or two with your plans. Start your search no earlier than four weeks before your desired move-in date since tenants are not required to give landlords more than 30 days’ notice of their move-out dates. Make apartment hunting your life for two or three weeks - that should be enough time to get familiar with the market and find what you are looking for.

New York City is an expensive housing market and you will likely be forced to make compromises in your choice. Monthly rents will vary depending on several factors; the most important of which is location, followed by apartment size and then amenities.

• Decide if You Are Willing to Share an Apartment – You can cut costs by sharing a large one bedroom. To find a roommate, check the listings for apartment shares in the OCHA Housing Registry.
• Consider Where You Can Afford to Live - Manhattan apartments are in the greatest demand and consequently rents are the highest here compared to other boroughs or nearby suburbs. In most areas of Manhattan, you will have great difficulty finding a studio apartment for less than $1,300-$1,400 per month. In contrast, there are areas just outside Manhattan (within a 30-40 minute commute) where you can find a decent studio apartment to rent for $850-$1,000 per month.
• Determine What Size Apartment Fits Your Budget and What Amenities You Can Do Without - Squeezing into a smaller apartment than your ideal and a willingness to accept some commonly perceived flaws such as street noise or lack of view or natural light may save you some money. In addition, rents will vary with the type of building in which the apartment is located such as whether or not the building has a doorman or an elevator.

If you can afford to pay a broker's fee, searching with a broker is highly recommended for convenience. Brokers can give you an overview of the market, guide you in your search, and facilitate the paperwork for you. Some landlords list apartment availabilities exclusively through brokers.

Brokers charge a commission for their services. In Manhattan, expect to pay between `12%-15% of the year's rent. That means if your rent is $1,000 a month, the broker's fee works out to $1,000 x 12 x 15%, or $1,800. Fees outside of Manhattan are usually less, ranging from one month's rent to 12% of the year's rent. The fee is payable only at the time of lease signing. OCHA maintains a list of real estate brokers, many of whom will give a discount on their fees to CU students and affiliates. The larger firms have Web sites where you can search their listings in advance of contacting them. You can also check their most updated listings in the classified ads in The Village Voice, The New York Times and LOOT. Don't forget to ask if a student or Columbia corporate discount is available.

If you prefer not to pay a broker's fee, "no fee" searching options include:

• Classified Ads - look for ads that say "no fee" or "by owner" as well as ads for sublets and shares.
• Landlords and Management Companies - Call directly and ask for a list of their vacancies. OCHA has compiled a list of some of the larger companies. Gabriel's Guide to Apartment Hunting is a book, which lists management companies, rental buildings and contact information.
• Online Search Sites - First check out OCHA’s Housing Registry listings. Then try the series of Web site links we have developed.
• Flat Fee Agencies - A flat fee ranging from $60-$250 is usually paid up-front for access to non-realtor fee listings.

In order to rent an apartment, you will be asked to complete an application, by your prospective landlord. You may also be required to pay between $50-$200 for credit reports and/or application fees. Landlords want to see evidence of steady income and good credit.

• Financial Requirements - Most landlords require that the prospective tenant have an income equal to 40-45 times the monthly rent in annual salary (combined income is used for roommates). You and your roommate will need to have all of your income verification paperwork readily available upon application for an apartment.

If you are a full time student or do not meet all the financial requirements, most landlords will require a lease co-signer or guarantor. A guarantor is an individual, typically a family member, who lives in the U.S., preferably in New York, New Jersey, or Connecticut. Guarantors are asked to disclose detailed financial information and have a credit report run on them as part of the approval process. The guarantor's income needs to be at least 75 times the monthly rent and they will also need to submit the paperwork listed below.

• Funds - When the landlord approves your apartment application, be prepared to pay the first month's rent and the security deposit upon lease signing. Most landlords require that these funds be paid in the form of separate certified checks or money orders. Landlords will not accept personal checks or credit cards. An additional certified check or money order will be required at the time of lease signing to pay the broker's fee, if applicable.
• Necessary Documents - Bring the following items with you when you start looking for apartments:
• Letter from your current employer stating your salary or from a CPA if you are a freelance worker or a business owner
• First two pages of last year's tax return
• Most recent bank statement(s), bank account numbers and credit card numbers
• Most recent pay stub(s)
• Names, addresses and phone numbers of previous landlords
• Names, addresses and phone numbers of personal and business references
• Photo I.D. such as driver's license or passport

Leases are important for clarification of the responsibilities of the landlord and tenant. If you don't have a lease, the landlord could ask you to leave or raise your rent on short notice. In addition, factors, such as when your rent is due, if pets are allowed and who is responsible for maintenance need to be clear. The type of lease you will be asked to sign can vary with the type of apartment and building in which it is located. OCHA has samples of different leases. Any changes to the standard lease are usually included in a separate lease rider. Leases are for one or two years and generally begin on the 1st or the 15th of the month.

Typically, the apartment will be unfurnished and will be located in a rental building that is owned by the landlord. Some apartments may be protected by rent regulations. A rent-regulated apartment is subject to limits on the amount that owners can raise the rent for vacant apartments and renewals of existing leases. Tenants in rent-regulated apartments have the right to renew the lease provided they’re in compliance with all lease terms and conditions. Rent-regulated tenants have the right to sublease the apartment with the landlord's permission.

For more information about rent-regulated apartments, visit the New York State Division of Housing and Community Renewal (DHCR) and click on "Rent Administration." Non-regulated apartments are known as market rate. They are easier to find and more expensive than rent regulated apartments