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Old 11-29-2010, 09:47 AM
66 posts, read 247,304 times
Reputation: 35


I needed more information about applying for an income restricted apartment. I recently applied for an "income restricted" apartment in Manhattan via KG Management and they denied me because I have a bankruptcy on my record. In all honesty, that bankruptcy was the best thing that could have happened to me. I got really sick and had tens of thousands of dollars of medical debt that my insurance would not pay due to a pre existing condition. Well anyway, my credit is now better than it ever was; I have very little debt and a very good credit score. I applied for the "income restricted" apartment because I did fall into the income requirements. Furthermore, because of my "income" the rent would have been very manageable. Currently I rent a room from someone, however, I rather have my own place, and I felt like I had a chance; however my hopes were dashed when I received the call stating that the management company does not rent to people with bankruptcies on their record.

My question is, will I experience this with any apartment that I attempt to apply for, even if I was making more money to apply for a "regular" apartment. I don't expect any favors, I am not proud of my bankruptcy, but I had no other choice, I know people who were able to get houses and cars after their bankruptcy (without co-signers), but I got denied for an apartment, even though I was able to prove that I have excellent rental history and a steady stable income. I don’t have a guarantor whom I can rely on. What option does someone who desires to live on their own have for NYC. I’m I just tripping because of this one management company?

I don’t want to become discourage, but I am getting afraid, I can’t continue to rely on anyone for shelter and I don’t want my past to keep me from getting an apartment, although I am more than qualified to maintain one. To be honest, I feel bitter, I live in a building with drug dealers and others who don’t seem to care about cleanliness, yet they seem like type that management companies want to have as tenants.

I am sort of frustrated, I just need someone who is going to sit down with me and listen to my story and see that I would be the most reliable tenant.
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Old 11-30-2010, 12:30 PM
8,749 posts, read 16,690,438 times
Reputation: 4168
If you are applying for any of the new affordable housing in NYC, which sounds like the income restricted apt you stated, then the answer is NO, you will not be able to get an apt with a bankruptcy on your credit. They not only have income requirements, they also have strict credit requirements, one of which is no bankruptcies...and there are no exceptions. The city is not in the business of sitting down with you and shedding a tear for your sorrows. You meet the requirements or you don't...and there are lots of people who do.

If you rent in the private market, you will be able to get an apt much easier. And you can find a Landlord that will sit down with you, hear you out, give you a hug, and cry with you.
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