NYC Rentals More Expensive and Harder to Get

Renters have been enjoying the upper hand for quite a while now, asking -- and getting -- landlords to pay a free month's rent and sometimes even broker's fees. But the ongoing economic crisis has prompted landlords in New York City to do the unexpected, raise rents and do more stringent reference checks, according to the New York Times. The reason for the shift is not necessarily a sign that the economic picture is improving, though -- only a reflection of landlords who have been burned when seemingly reliable tenants lose their jobs and fail to pay rent. Many landlords also are hopeful that the economy will slowly improve, although the New York City Independent Budget Office is predicting that the employment picture in the city won't improve to peak levels of a few years ago until mid-2013. Simply put: Renters should continue to try negotiate favorable terms and extras.

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