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Hey all,
Im moving back up to NYC in late august and Im concerned, it seems crazy difficult to meet all the requirements of apartments etc.
My situation, My GF and I are moving up- we've been saving for nearly a year.
Looking for something under 1300 (hah)
No job lined up-
And while I have family in NYC that normally might be a guarantor, they don't make enough (retired) to meet the requirements.
Question is: if I pay more months rent in advance can I get by these strict requirements?
or am I SOL?
Typically you need to make 40-45 times the rent for the past 2 consecutive years, have credit above 650 (higher/lower: it all depends), provide a letter from your past landlord(s), proof of income, or proof of money in the bank. If the prospective tenant cannot provide one or more of these items, a guarantor is usually needed. And the guarantor needs to have all of the above items--PLUS make 100 times the rent for the past 2 consecutive years. More than one guarantor is allowed.
Granted, these rules vary from agency to agency, and are much, much more strict with corporately-owned or "no fee" apartments where the landlord pays the fee.
Sometimes $$ in the bank can get an apartment for you--but those are few and far between. You might be able to pay 6 mos upfront and get a reduced lease or approved for an apartment like that.
You may also want to consider roommates--look on craigslist for people needing roommates and jump right in. That may be easiest.
If you are looking for under $1300, be flexible. That can be had in Manhattan in Washington Heights, Inwood, parts of Spanish Harlem, and Harlem. May even be possible for a small studio in other areas of the city.
In Williamsburg/Greenpoint, that can get a decent size 1 bedroom.
Good luck!
Thanks,
yeah I dont meet any of that top half of your list, I see those requirement lists online all over the place, thats what is freaking me out. We are primarily theatre artists so Our jobs are pretty random-(even being in the union) on the flip I do web work and will be keeping many of my clients after the move,
Everything we've saved up is all we can do..but maybe I can convince a few relatives to become guarantors if needed. Maybe my clients can vouch for me a bit too (I do plan on getting more clients in NYC too)
Our Bank statement would support at least 6 months rent up front-but I would need supporting documentation that I did pay that much up front don't you think? I also am heavily looking into east Harlem but also LIC, Astoria som parts of brooklyn.
(I lived in Washington Heights about 8 years ago for about a year(along fort washington) and I had no problems there, except that I kept wishing I was closer to at least midtown-which is where I was always either temping or auditioning.
What about these so called "guarantor services"? Anyone heard of them? whats the catch?
.
In Williamsburg/Greenpoint, that can get a decent size 1 bedroom.
Good luck![/quote]
A couple of years ago he could for 1300. Nowadays not a chance. 1500 make get him a decent studio in Greenpoint. About 1800 for a decent studio in Williamsburg. The trust fund babies have ruined things for us working stiffs around here. 1300 will probably get him something in bushwick near the pjs.
hmm ok How about Queens or Brooklyn .
Checking Cragslist but of course so many of those are too good to be true. The ust be bunk. And if someone can afford to advertise in the Times. Its usually out of the price range. Argghhh,,
Say it aint so ,,,(SOL) I just tendered my resignation (and I gave them 5 weeks notice how about that!!??) LOL.
Typically you need to make 40-45 times the rent for the past 2 consecutive years, have credit above 650 (higher/lower: it all depends), provide a letter from your past landlord(s), proof of income, or proof of money in the bank.
This confuses me a bit. The proof of income and the 40x rent thing, is that just for previous jobs then? As I've read on this board, the thing to do is move to NYC and then find a job, rather than the other way around, but this proof of income thing seems to mean that you'd need to have a job before being able to get an apartment... is that right or is it just proof that you can make money, not that you are at the moment?
This confuses me a bit. The proof of income and the 40x rent thing, is that just for previous jobs then? As I've read on this board, the thing to do is move to NYC and then find a job, rather than the other way around, but this proof of income thing seems to mean that you'd need to have a job before being able to get an apartment... is that right or is it just proof that you can make money, not that you are at the moment?
It's just a process that makes landlord's comfort level renting to tenants just that--comfortable that the landlords will get payment each month from tenants. So, you should have pay stubs from your past job (that you left) for 2 yrs, and/or an offer letter for your new job. Jobless people coming to NYC have a tough time getting a space through an agency. Go the roommate route...or direct to landlord route.
Some apartments will be absolutely strict (and real estate firms) on this rule. Others (and you have to dig) will not care as long as they meet you and see a bank statement, pay stub, or simply like you. I used to rent apartments in Williamsburg and Greenpoint (from 2003 to 2006), and would see the old Italian landlords do this all the time. We had a process at our company, but they would shake hands and give a person an apartment if they liked them.
hmm You meen I can show pay stubs from a job outside of new york and that could help?
When I lived in New york (8 years ago just for about a year)
It was super easy to get Temp work. That may have changed a bit but Im certainly more skilled than before so Im not worried, especially with my savings. But convincing a leasing company or landlord, sounds like a different matter entirely.
First time I was up I was solo so the roommate thing was the way to go. But now Im going up with my GF,
So it will be trickier,
thanks
Several firms have started up in NYC to deal with this issue. I have no idea of their success or whether the landlords have accepted them. These companies provide the guaranty required by landlords in exchange for a fee. If you are familiar with the notion of bail bondsmen, it works the same way. Check INSURENT
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