When to start searching for a rental

February 28.

About 2-4 weeks before if they can only make one trip.

Probably wouldn't hurt for them to begin looking on Streeteasy in February to get the lay of the land. Then a trip in the 2-4 weeks area to look at a whole bunch of places.

If you need board approval, that takes over a month. if it is condo, a week or two. but also depends on neighborhood as there are several new rental buildings coming on line.

nycmott, we need more information. Are your 2 friends recent graduates looking for a share on the lower east side? Are they a more established couple looking for a condo and with good credentials? What is their budget? Do they have an idea what neighborhood might be of interest?
The answer differs.

These are 2 women (both professioanls) who will be relocating to work for my company and making good money. They will share. Credit probably not the best but I can be a gurantor. Uppear east (65th - 92nd) with a $2500 or so budget looking for a 2Bed 1Ba

2bed/1bath for 2500....i'm paying $2500 for a studio.

Is your studio in the Upper East? I see what seem to be nice 2/1 apts in the Upper East for between 2200 and 2700

yes

prices have come down....my LL just reduced my rent by $375... so you're probably right.