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How is it that you think that ? It is well known that they cannot necessarily do this.
Many do, but the fact that the next tenant is usually a transplant, someone not from here and therefore unaware (and not interested in learning unless "it's about ME"), means that nobody checks to be sure that any increases were valid.
Didn't I just say in my post that I wasn't SURE if this was true or not??
Sorry dear you're totally wrong, and Keifr King has never been correct about anything!
You are only "renting". Think deeply and Define that!
Borrowing money is a financial obligation. Renting property is also a financial obligation.
Those extending Credit, unsecured and secured debt, have a right and a demand to be ASSURED that the borrower has the capability to meet the financial obligation.
Renting is the extension of unsecured property!!
The possesion of property is turned over to parties with no vested financial interest, AND who have not secured the LOAN of property!!
Renters are the equivalent of unsecured borrowers.
NYC is different than Transplantland, because the value of the extended property, and that of the unsecured rent, and expenses FAR exceed that of virtually anywhere in the country.
Each month of unpaid rent is an unsecured loan. Like a credit card, monies are paid for goods and/or services. Like a credit card you can rack up a huge debt in a short period.
The ONLY security for these types of debt, rental and/or credit card is the income of the payor.
Consequently, it is more than reasonable for the payor's income to be verified as true and real. That the payor be vetted as capable of meeting the financial obligation of renting.
Without which there is no incentive to rent property.
Yeah, yeah, whateva.
Your post and others on here justifying invasive info to RENT an apartment in this city is a true example that if you say something enough times you start to believe it.
Some things really are none of the Landlord's business and I will continue to believe that no matter what. If I'm going for SUBSIDIZED HOUSING, then I can understand asking for this, but not just because the landlord wants to be nosy and try to call it a part of "doing business". Suuuurrrreeee it is.
Soon NYC landlords will be asking that the tenant's guarantor have a GUARANTOR just in case both the tenant and current guarantor can't pay continue to pay the lease obligations. Please don't say it's not possible or it won't ever happen, because it can.
Oh GOD, is therer no way to ignore the moronic posts of Mr. Coltrane. Although I have him on IGNORE, others choose foolishly to quote his blather and I accidentally see them. So be it.
Life is a chore filled with loudmouthed morons with more time on their hands than brains.
Get a job Mr. Coltrane and let the board revert to some common sense.
Check my credit, call my job and prior landlord references, looking at my prior tax returns or bank statements is NONE OF HIS BUSINESS. He's just RENTING to me.
Um, you have it backwards. You're paying to use his property with his permission, but that permission is granted only through ensuring that you are a qualified tenant. That entails knowing that you will pay your rent timely, have the capacity to do so and are likely to be a proactive tenant through proxies such as sustained employment and income. Any landlord who doesn't do that is bad news and cares little about their property and those who seek to pay to use it. You're free to say it's not your business, but good luck living somewhere nice.
Kefir...how can you make such a statement that it is no business of the landlord's whether you can actually afford to pay the rent!! WTF! The reason why LLs ask for the financial information is so that they know you can actually pay the rent.
Easy...it's called the right of privacy.
Ask a LANDLORD how much profit he makes on his building if you need to understand the concept of privacy.
Sorry dear you're totally wrong, and Keifr King has never been correct about anything!
You are only "renting". Think deeply and Define that!
Borrowing money is a financial obligation. Renting property is also a financial obligation.
Those extending Credit, unsecured and secured debt, have a right and a demand to be ASSURED that the borrower has the capability to meet the financial obligation.
Renting is the extension of unsecured property!!
The possesion of property is turned over to parties with no vested financial interest, AND who have not secured the LOAN of property!!
Renters are the equivalent of unsecured borrowers.
NYC is different than Transplantland, because the value of the extended property, and that of the unsecured rent, and expenses FAR exceed that of virtually anywhere in the country.
Each month of unpaid rent is an unsecured loan. Like a credit card, monies are paid for goods and/or services. Like a credit card you can rack up a huge debt in a short period.
The ONLY security for these types of debt, rental and/or credit card is the income of the payor.
Consequently, it is more than reasonable for the payor's income to be verified as true and real. That the payor be vetted as capable of meeting the financial obligation of renting.
Without which there is no incentive to rent property.
I am far from "anti-tenant," whatever that might mean, but I must agree.
Your post and others on here justifying invasive info to RENT an apartment in this city is a true example that if you say something enough times you start to believe it.
Some things really are none of the Landlord's business and I will continue to believe that no matter what. If I'm going for SUBSIDIZED HOUSING, then I can understand asking for this, but not just because the landlord wants to be nosy and try to call it a part of "doing business". Suuuurrrreeee it is.
Soon NYC landlords will be asking that the tenant's guarantor have a GUARANTOR just in case both the tenant and current guarantor can't pay continue to pay the lease obligations. Please don't say it's not possible or it won't ever happen, because it can.
Again your claim to be a big New Yorker and all puzzles me.
Indeed, this is already happening. There are landlords who will not rent to anyone, of any income, without a guarantor, and there are others who ask for two.
The background and income checks take time and money. Few businesspeople will waste either in the interests of being "nosy," especially given that prospective tenants are rarely members of their own social groups, and anyone who has spent any time at all here knows this.
I wouldn't "alter" my real ones and I would never do this to BORROW money, so there's no crime.
I also wouldn't rent a place I couldn't afford. I just don't believe in giving someone I'm RENTING from my tax documents and financials. No other city does this crap. NYC only gets away with it, because people have duped themselves into believing that this is okay and it's not. Never has been.
Okay, what about the GUARANTOR needing to make 80 or 120 times the rent?? In whose world (outside of NYC) is this even considered "normal"??
Thank goodness this guarantor thing is only relegated to Manhattan and certain parts of downtown Brooklyn.
Its not 'just in NYC' and in NYC hardly 'just in Manhattan and "parts of downtown Brooklyn". When I rented in Flushing Queens (and this was in the late 1990s & mid 2000's they asked for this).. And in the Boston area where I am now (and actually most of eastern MA which has a very low rental vacancy rate and a high population of rich college kids & college grads all competing for the same apartments) the criteria is pretty much the same. I had trouble because even though I had the income my credit wasn't that great (in 2009) so I had to apply to over 30 places (and this was north of Boston in what are considered blue collar lower middle - middle class areas)..
It is a landlords market in most areas now and will be for some time. Maybe in places in central NY state or in central MA that are more rural the requirements are just a basic credit & criminal background check but hardly it is "just in Manhattan or downtown Brooklyn" (where typically you have to be approved by Co-Op or Condo boards since many rental buildings converted to Co-Op back in the 1980s)
Again your claim to be a big New Yorker and all puzzles me.
Indeed, this is already happening. There are landlords who will not rent to anyone, of any income, without a guarantor, and there are others who ask for two.
The background and income checks take time and money. Few businesspeople will waste either in the interests of being "nosy," especially given that prospective tenants are rarely members of their own social groups, and anyone who has spent any time at all here knows this.
""prospective tenants are rarely members of their own social groups, and anyone who has spent any time at all here knows this ""
Really? even on the Upper East & West sides of Manhattan (actually most of Manhattan) -- you can't rent a closet for less than $2,000 a month.. but I don't think many who rent in those areas are from a 'lower socioeconomic' class if that is what you are trying to say. You can either rent for $3,000 a month or buy an apartment for over $650,000 (for probably only a studio now)
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