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Old 01-23-2014, 01:40 PM
 
9 posts, read 42,231 times
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I'm 24 and have some savings and I was just released from Active Duty Military. I have just found a job that will pay 30k plus commision. Average associates are making 45-55k after commission. It's not a lot, but almost every apartment that I find available for 800-900/month want proof of income of 40K plus. Right now I'm living with my parents, but my time here is running out. What should I bring or try to say in regards to my proof of income to potential renters?
BTW I am married and my wife is working part time and attending school full-time. I have 0 references as I haven't rented before. This has been a very stressful situation.
I'm looking at the Staten Island area and I have good credit.
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Old 01-23-2014, 02:28 PM
 
Location: Confines of the 101 Precinct
19,333 posts, read 34,419,323 times
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Try renting in a 2 family house that way you deal with the owner directly.
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Old 01-23-2014, 03:01 PM
 
1,060 posts, read 1,644,434 times
Reputation: 575
Quote:
Originally Posted by MikeyL718 View Post
I'm 24 and have some savings and I was just released from Active Duty Military. I have just found a job that will pay 30k plus commision. Average associates are making 45-55k after commission. It's not a lot, but almost every apartment that I find available for 800-900/month want proof of income of 40K plus. Right now I'm living with my parents, but my time here is running out. What should I bring or try to say in regards to my proof of income to potential renters?
BTW I am married and my wife is working part time and attending school full-time. I have 0 references as I haven't rented before. This has been a very stressful situation.
I'm looking at the Staten Island area and I have good credit.

You show you are not from here when you show you don't know that there is an unwritten 40 times income rule when it comes to renting but from experience you will never be able to use your commission until you have an extended track record. What others make is not of your concern. Your best bet is to find someone
else to guarantee your rent who can make the 40 times rule. Good luck, How about your parents. I had to do it for my daughter when she first moved here. The other alternative is to work with an agent who knows landlords who might not be as strict.
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Old 01-23-2014, 03:15 PM
 
Location: Brooklyn
2,307 posts, read 2,801,653 times
Reputation: 1404
I mentioned this in another thread:

Quote:
Originally Posted by silverbullnyc View Post
As a real estate agent here in NYC these have been my experiences with clients who have bad credit history. Keep in mind depending on your salary and how badly your credit score itself is will determine these outcomes.

1 month rent and 6 month security
1 month rent and 2 months security
1 month rent and 3 months security
2 months rent and 2 months security
6 months rent and 6 month security
Full yr upfront and 1-4month security

Please note The Landlords/management companies make this rules not us agents.

If you have any more questions from someone in the field shoot me a private message.
This week i just rented an apt to a client who didnt meet the 40x's rent rule and had bad tax issues she offered to pay 1yr up front and 3 months security and the landlord/lord management company accepted it. $3500 1br in the uws on central park west in the 80's.
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Old 01-23-2014, 04:17 PM
 
1,060 posts, read 1,644,434 times
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Quote:
Originally Posted by silverbullnyc View Post
I mentioned this in another thread:



This week i just rented an apt to a client who didnt meet the 40x's rent rule and had bad tax issues she offered to pay 1yr up front and 3 months security and the landlord/lord management company accepted it. $3500 1br in the uws on central park west in the 80's.

Remind me never to use you as an agent---- when are agents in this city going to have the courage to tell landlords they are just asking too much for everything.
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Old 01-23-2014, 04:23 PM
 
Location: Brooklyn
2,307 posts, read 2,801,653 times
Reputation: 1404
Quote:
Originally Posted by bilmin View Post
Remind me never to use you as an agent---- when are agents in this city going to have the courage to tell landlords they are just asking too much for everything.
I think you missed the part where SHE OFFERED to pay cause she knew her salary wasnt good and had terrible credit.

Apt is beyond nice and she really wanted it and knew it would be difficult cause of her situation to get a place.
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Old 01-23-2014, 04:33 PM
 
11,204 posts, read 21,629,873 times
Reputation: 8800
Quote:
Originally Posted by MikeyL718 View Post
I'm 24 and have some savings and I was just released from Active Duty Military. I have just found a job that will pay 30k plus commision. Average associates are making 45-55k after commission. It's not a lot, but almost every apartment that I find available for 800-900/month want proof of income of 40K plus. Right now I'm living with my parents, but my time here is running out. What should I bring or try to say in regards to my proof of income to potential renters?
BTW I am married and my wife is working part time and attending school full-time. I have 0 references as I haven't rented before. This has been a very stressful situation.
I'm looking at the Staten Island area and I have good credit.
Contact any local veterans associations on Staten Island and see if there is any networking you can do to find military vets who own rental units. It seems like there is generally a culture of vets helping other vets, so it can't hurt to try.

https://www.facebook.com/StatenIslandVeteranGroup
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Old 01-23-2014, 06:01 PM
 
9 posts, read 42,231 times
Reputation: 20
Thanks for the advice and I am from here. Born in the Bronx and raised in Brooklyn. It just seems like the rent doesn't reflect how much one should be making. I may just have to try to convince my parents to let me stay here as I finish up my degree in order to get a better job.
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Old 01-23-2014, 07:49 PM
 
1,060 posts, read 1,644,434 times
Reputation: 575
Quote:
Originally Posted by MikeyL718 View Post
Thanks for the advice and I am from here. Born in the Bronx and raised in Brooklyn. It just seems like the rent doesn't reflect how much one should be making. I may just have to try to convince my parents to let me stay here as I finish up my degree in order to get a better job.

They probably will say sure you can stay but the wife will have to get a hotel room.
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