For Renters:
Rental Apartment Categories

RENTAL BUILDINGS
Exclusively occupied by rental tenants. After you've filled out an application, and paid for a credit check, your approval should come through as quickly as the same day, although it may take up to a week. One month's rent is usually all that is needed for a security deposit which is refundable at the end of the lease. (See also "RENT STABILIZED" and "NON-STABILIZED BUILDINGS" under Building Terminology.)

CONDOMINIUMS
In condominium buildings, individuals own the apartments, not a single landlord. Some of these individual owners choose to rent their units rather than live in them. The owner has the right to decide the amount of rent and security, as well as the length of the lease. Expect security deposit and application fees to be more than in a rental building, and to pay "move-in/move-out" fees, which cover costs relative to your physical move in and out of the building. As in co-ops (below) some condominiums might also require that extensive paperwork be submitted.

CO-OPERATIVES (CO-OPS)
In co-operative buildings, individuals own shares in a corporation whose sole asset is the building. Since the corporation technically owns the building, there are likely to be many restrictions governing the usage of the apartments by individual residents. If a cooperative allows rentals, (called "sublets," and usually for a maximum of 2 years) it usually requires a prospective tenant to apply to the co-op board, providing extensive detailed financial information and a personal interview, before the sublet is approved. Obviously, the approval process will take longer than the normal condo or apartment. "Move-in/move-out" fees still stand, and the security deposit could be higher as well. It is extremely difficult for a new-hire or an expatriate to rent a co-op without some credit history, and excellent personal and business references.

FURNISHED APARTMENTS (SHORT AND LONG TERM)
Furnished apartments can be found for as little as a few months and as long as two years. Short-term furnished rentals come with televisions, phones, linens, and kitchen equipment, and are especially designed for corporate clients. If you need a furnished apartment for a year, you might consider an unfurnished apartment and rent furniture in order to reduce costs.