• New York City is famous for small apartments with large price tags.new york image by Gerhard F??hring from Fotolia.com
  
  Searching for a new apartment can be as exciting as it is daunting. Whether you seek to rent or purchase, if you are an apartment hunter looking for an apartment in New York City, you may be faced with even more challenges than apartment seekers in other parts of the country. There are a few requirements you should get in place before you are ready to rent or buy an apartment in New York City.
  
  

Deposit

• Make sure you shop with your checkbook in hand!check book image by Rob Hill from Fotolia.com
  
  If you are seeking an apartment in New York City, you will likely be required to put down a security deposit in addition to first and last month's rent. If you plan to purchase an apartment, you will be need to put down a deposit of at least 10% of the purchase price which will be submitted with your purchase offer. The real estate market in New York City is very active and highly competitive. Failure to put down an adequate deposit can easily result in loss of the property to another buyer or renter who is more prepared.
  
  

Identification

• Make sure your ID has a recent photo attached.passport image by isatori from Fotolia.com
  
  If you are working with the real estate broker or leasing agent, you may be asked to show a valid photo identification before you can see the property. Even if you are not asked to show a photo ID before viewing property, you will be asked for proof of identification before submitting an offer to rent or purchase a property. If you are looking for an apartment, make sure you have your driver's license, photo passport or resident alien information card with you at all times.
  
  

Employment and Credit Check

• Certain New York apartment buildings may have strict renting and purchase guidelines.new-york image by Christophe Schmid from Fotolia.com
  
  In most cases, you need to show proof of employment and stable income to rent an apartment in New York City. Many landlords and leasing agents also run background and credit checks. An employment history of less than two years, insufficient income or a questionable credit history may hinder your chances of getting the apartment you want. If you are planning an apartment purchase, you will be required to submit to a credit history check along with employment and income verification as part of your mortgage application with a lending institution. You may also be required to submit to a review by the members of a building co-op board.
  
  

References

• Have your references available to submit with your apartment applications.filofax image by Warren Millar from Fotolia.com
  
  Most landlords and leasing agents in New York City will also request three to four personal references prior to approving your application for an apartment. When you are ready to begin looking for an apartment, it may be helpful to compile a list of references and have them ready upon request.