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OMG! Are you serious? That statement takes ignorance to a whole new level. You are right about brokers trying to steer me towards government program tenants. How do you run credit and criminal checks? Do you belong to a landlord association? I appreciate the advice.
There's a bunch of screening agencies but a good one is Kroll Factual Data. Google them and open an account. They screen everything!
I recently found a studio I'd like to rent. But I find the landlord application requires very extensive materials.
According to the lanlord, each rental application needs to include:
1. 5 reference letters, including 2 from business contacts, 2 from personal/character contacts, and 1 from previoud lanlord.
2. Letter from CPA verifying income.
3. Letter from employer confirming work and income.
4. First two pages of tax returns of last 2 years and w-2 forms.
5. Monthly bank statements/ monthly brokeage statements.
6. Copy of driver license
7. Copy of Social Security card
8. seven other documents/forms.
I feel the application is really too complicated. My concern is the lanlord is over demanding in the application process, so he may be also very difficult to deal with during the lease.
Has any one had experience for such a complex apartment rental application?
Where are you moving to - Buckingham Palace?
Seriously, though, it seems excessive but sounds like the landlord is trying to stay away from people who can't afford the place. I know people who have terrible rent histories, no jobs, etc. who have gotten nice apartments and I always wonder how in the world they managed that.
I recently found a studio I'd like to rent. But I find the landlord application requires very extensive materials.
According to the lanlord, each rental application needs to include:
1. 5 reference letters, including 2 from business contacts, 2 from personal/character contacts, and 1 from previoud lanlord.
2. Letter from CPA verifying income.
3. Letter from employer confirming work and income.
4. First two pages of tax returns of last 2 years and w-2 forms.
5. Monthly bank statements/ monthly brokeage statements.
6. Copy of driver license
7. Copy of Social Security card
8. seven other documents/forms.
I feel the application is really too complicated. My concern is the lanlord is over demanding in the application process, so he may be also very difficult to deal with during the lease.
Has any one had experience for such a complex apartment rental application?
We had to go through a rigorous process to rent when we moved here and had never done that before. Welcome to NYC. Landlords have a huge downside if tenants do not pay the rent. The laws are so in favor of renters. I don't blame landlords for their caution.
The rental market is tight so landlords want more and more and more...they think they can get it. They imagine their rental apartments deserve the same scrutiny that buying a co-op in Jackie Kennedy's Fifth Avenue address does.
If enough people tell these intrusive landlords to stuff their paperwork where the sun don't shine, they'll get off their high horses.
When the rental market caves, as it inevitably will, these same landlords will be kissing asses to get tenants, ANY tenants who can pay a security deposit and a month's rent AND they'll throw in some perks.
Perhaps a time will come when landlords have to show references from past tenants to show they are scrupulous and law abiding.
The rental market is tight so landlords want more and more and more...they think they can get it. They imagine their rental apartments deserve the same scrutiny that buying a co-op in Jackie Kennedy's Fifth Avenue address does.
If enough people tell these intrusive landlords to stuff their paperwork where the sun don't shine, they'll get off their high horses.
When the rental market caves, as it inevitably will, these same landlords will be kissing asses to get tenants, ANY tenants who can pay a security deposit and a month's rent AND they'll throw in some perks.
Perhaps a time will come when landlords have to show references from past tenants to show they are scrupulous and law abiding.
Cry all you want but nothings going to change. As long as you have the Rent Stabilization laws in favor of tenants over landlords (who own the darn property) then the 40x rent rule and STRICT rental criteria will only continue to spread and catch on to the outer boroughs and will NOT only be just in Manhattan. You just watch!
The requirements are spreading throughout the other boroughs, we know this already. This particular requirement may seem excessive, but it is probably because the LL has been burned before and is doing what anyone would do: Protect himself. Once the tenant is in, they are YOUR problem potentially for life in many cases. So why would anyone find tight screening process to be surprising? If anything, it should be viewed positively as every other tenant was equally vetted = better quality neighbors/ little or no drama / better living conditions and a better environment.
So what's the problem exactly? Laziness? You feel entitled to provide only the information you see fit? If that's the case, rent somewhere else because the LL IN THE BEGINNING is holding all the cards.
The requirements are spreading throughout the other boroughs, we know this already. This particular requirement may seem excessive, but it is probably because the LL has been burned before and is doing what anyone would do: Protect himself. Once the tenant is in, they are YOUR problem potentially for life in many cases. So why would anyone find tight screening process to be surprising? If anything, it should be viewed positively as every other tenant was equally vetted = better quality neighbors/ little or no drama / better living conditions and a better environment.
So what's the problem exactly? Laziness? You feel entitled to provide only the information you see fit? If that's the case, rent somewhere else because the LL IN THE BEGINNING is holding all the cards.
Ha I think that's like the only time the landlord has the upper hand and control of his own property. Everything after the tenant taking occupancy of the apartment, the upper hand is shifted to the tenant yet the tenant doesn't own it. Go figure.
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