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RENTING IN NEW YORK

 

Finding an apartment in Manhattan is a completely unique experience comparative to anywhere in the world.  As we have already indicated, finding an apartment in New York City can be a daunting, time consuming and frustrating task. However, we aim to make this process as smooth as possible.   You should become familiar with the rules of renting, paperwork involved, and most importantly, check your credit! It's important for you to see your financial profile the same way a landlord will.  So be prepared.  Know before you go.

 

To make this process as smooth as possible for you, we have compiled a list of the necessary documentation you should have on hand before you start your hunt for an apartment here in Manhattan.  Please familiarize yourself with both these documents and requirements and understand the criteria which must be met for a successful rental application. It is important to note, a successful application not only depends on a diligent agent but more importantly, a qualified applicant.

 

 

Documents required:

 

     Letter of employment and salary verification. Income requirements are approximately 40-50 times the monthly rent

 

     If self-employed, a tax return and/or letter from a Certified Public Account

 

     Tax returns from the last two years

 

    Most recent pay stubs, usually the last two pay periods

 

    Current bank statement, including bank account number, both checking and savings

 

    Credit report (Will be run by landlord or broker, depends on landlords policy)

 

    Contact information of any personal or professional references

 

    Reference letter from current and/or previous landlord

 

    Two forms of personal identification (driver's license, passport, green card etc)

 

 

Please note, the above required documentation also applies to Guarantor's (co-signer) should you need one.  However, income requirements are approximately 75-100 times the monthly rent.

 

 

If you are relocating to New York City, it is very important to know that landlords in Manhattan only take certified checks for rent and security which are due at lease signing.  The funds can be in the form of a bank check, certified check, traveler's check or money order. Absolutely no personal checks accepted. Therefore, it is of utmost importance that you have sufficient monies available at a minutes notice. It is also important that you have available funds at the ready, for apartments in Manhattan rent extremely quickly. Most are taken on a first come first serve basis.  Typically, landlords require that you pay one month's rent and one month's security.

 

 

We do hope that the above list has given you a general idea as to what paperwork is needed and involved. However, please do remember, we are here to help you, so feel free to call us with any additional questions or concerns you might have.

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