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Needed to Rent a NYC Apartment

Needed to rent a NYC Apartment


 

Resources Needed When Renting A NYC Apartment.

Renting an apartment in NYC Manhattan requires a different set of regulations than found elsewhere in the country. Below is a brief list of what is needed to rent an apartment here in NYC but can be particular and different to each building.

Renting An Apartment in NYC Manhattan

Renting an Apartment in NYC Manhattan

A brief list of some things needed to rent an apartment in Manhattan, NYC.

  • 1… Income the buildings here in NYC typically require between 38 and 45 times the rent as a gross income needed to acquire the rental. For example if the apartment is $ 3,000 per month to rent you would need to make 3,000 x 45 as a gross income to rent the apartment. 3,000 x 45 = 135,000 per year gross.
  • 2… Steady and stable employment. You would need to show an employment record and letter of employment verification to prove at least one or two years consistency.
  • 3… Citizenship depending on the building proof maybe needed. Please consult a professional and the building management office for verification.
  • 4… W2 and tax returns for at least 2 years. Also at least 4 recent paycheck stubs and at lease signing the most recent stub to prove employment at the time of signing the lease.
  • 5… In NYC typically only 1 month rent is needed for a security deposit.
  • 6… Identification. Proof of your identity for example a drivers lic and proof of social security number.
  • 7… Guarantor, what is a guarantor ? A guarantor is someone who can co-sign the lease with you guaranteeing the rental amount in the event you cannot make your months rent. this is used when someone is renting the apartment without enough income and has either a family member or company¬† guaranteeing the payment of the rent in the event that the leaseholder cannot provide full rent. Mostly used when a parent is assisting an adult child in the rental. Note if you are using a guarantor than the guarantor needs to prove at least 75-85 times the rent to show they can afford the rental on top of their own living expenses.
  • 8. .. Acknowledgement of the buildings smoking and pet policies.
  • 9… Acknowledgment of New York states window lock and childproof laws.

Renting an apartment in NYC can be frustrating if you are not aware of the requirements. As a specialists I can be of great value in your search and application process.  Please contact me for any questions and assistance that I can be.