|By Senad Ahmetovic - Associate Broker with Halstead Property, LLC
||Info For Renters
Moving to New York City and going through the rental approval process can be difficult and stressful experience. That is why it is good to be prepared. Here you will find list of documents required to rent an apartment in the city so you should have them handy and get them before you actually start looking.
Letter of employment needs to state:
- Photo ID
- Social Security Number
- Letter of employment -
(if new on the job - acceptance letter)
- Last 2 years tax returns
- Paycheck stubs
- Recent bank statement
- Personal reference letter
- If retired - letter from your CPA
You will need all of this for each applicant on the lease.
- Name and address of the company
- Contact person for verification with phone number
- Annual salary
- Length of employment and your position
In New York City in order to qualify for your wish apartment, you need to know that owners and landlords here require prospective
tenants to earn 40 to 45 times the monthly rent.
For Example: - if you are renting a $2000 apartment they will ask you to provide documents that you are making $80,000 to $90,000 a year.
Combine spouse income is acceptable.
If you can not qualify with your income you than need a guarantor.
Guarantor is generally needed if:
Guarantor is person who co-signs your lease. He/she needs to provide all of the documents above, with one exemption - person being a guarantor needs to show income of 80 to 90 times the monthly rent.
Some landlords will take only guarantors from New York State or New York Tristate area (NY, NJ, CT) and other again guarantors throughout the country.
- your credit rating is not good
- your income is less than 40 times the monthly rent
- you are just starting a new job (no previous work history) or
- your length of employment is less than a year
Typical brokerage commission for finding an apartment for one or two years lease is 15% of the annual rent.
Brokers fee for renting a short term furnished apartment is:
Renting a furnished apartment for the short term is probably the best solution for people relocating to New York who are not sure where they want to live.
- for leases up to 2 months - tenant pays 1/2 month's rent
- for more than 2 and up to 6 months - fee is 1 month rent
- for leases of more than 6 months - 15% of the total term
They can get familiar with the city while in temporary housing and than decide what area is best for them and where they want to start looking for an apartment.
Check our furnished apartments or call 917/523-7987 for more info.
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reliable but not guaranteed. Photographs, description and information about the properties reflect conditions at the time the photographs were taken.
Copyright Senad Ahmetovic 1999-2007, NYC. All rights reserved.