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Old 01-21-2010, 01:50 PM
 
Location: New York City
395 posts, read 1,210,625 times
Reputation: 375

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In NYC, you must make 40 times the rent. (ie 1,000 a month, you must make 40,000.) If you and your friend are on a lease, you both combined must make 40 times the rent. (so yes, you can combine your income.) However, if you need a guarantor because your credit is below a 600 or you do not meet the income requirements, then your gaurantor must make 80 times the rent and live in the tri state area.
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Old 01-30-2010, 07:22 AM
 
2 posts, read 22,495 times
Reputation: 11
I agree that landlords should be able to protect themselves, but I think if it's an unreasonable amount, it is discrimination. I also think there should be exceptions. Example, someone who has money in a savings or annuity etc. to fall back, if need be. Having said that, there are still no guarantees. Anyone can fall on hard times, lose a job or fall ill. In addition, there are many highly paid yet irresponsible people who don't pay there bills! My point is, a landlord should be careful yes, but their decisions should be based on a number of factors, not a blanket arbitrary number. Are they accepting a person for their ability or willingness to pay their bills on time, or a certain "look" or "class" that they prefer in their complex? There should be some sort of guideline to protect tenants as well.
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Old 01-30-2010, 11:02 AM
 
Location: Brooklyn
2,871 posts, read 4,778,314 times
Reputation: 5247
Originally Posted by POLLIELAND
A minimum income requirement sounds like discrimination to me. Is that legal?

Quote:
Originally Posted by ohiogirl22 View Post
No.
Oh Really....And, why is that illegal ohiogirll????
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Old 01-30-2010, 02:39 PM
 
4,471 posts, read 9,807,049 times
Reputation: 4354
Quote:
Originally Posted by makossa View Post
Originally Posted by POLLIELAND
A minimum income requirement sounds like discrimination to me. Is that legal?



Oh Really....And, why is that illegal ohiogirll????

You might of missed it but i posed that i miss read the comment and thought it said "is that illegal"
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Old 01-30-2010, 08:41 PM
 
Location: In America's Heartland
929 posts, read 2,086,981 times
Reputation: 1196
Most landlords would allow you to combine the incomes. I personally would not enter into anything that you could not afford to pay on your own.
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Old 05-26-2010, 04:40 PM
 
1 posts, read 1,707 times
Reputation: 10
What do I need to Rent in New Jersey .. credit card , good score is this all true!
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Old 05-27-2010, 08:35 AM
 
979 posts, read 4,442,428 times
Reputation: 519
There's no "rule", or law. It's up to the individual landlord. Credit scores might be important to some and not to others. Some people might of had a burden of catastrophic health bills that would force them into bankruptcy. It depends on how proactive the LL wants to be in researching a potential tenant.
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Old 05-27-2010, 08:45 AM
 
461 posts, read 1,996,034 times
Reputation: 371
Quote:
Originally Posted by POLLIELAND View Post
A minimum income requirement sounds like discrimination to me. Is that legal?
Was that a real question? Is it legal? Hahaha. Of coarse it's legal. Why shouldn't it be? Why are people always trying to find an excuse to pull out the discrimination card in order to loosen rules?

Remember, being a LL is a business, not a charity. The 40x the rent rule exist for a reason.
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Old 07-02-2010, 10:31 PM
 
2 posts, read 15,543 times
Reputation: 12
Hi, sorry to cut in here but in NYC is it my GROSS salary or NET salary that has to be 40x the monthly rent?
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Old 07-03-2010, 11:11 AM
 
Location: In my view finder.....
8,515 posts, read 16,135,980 times
Reputation: 8079
Quote:
Originally Posted by hannahcruz88 View Post
Hi, sorry to cut in here but in NYC is it my GROSS salary or NET salary that has to be 40x the monthly rent?
As someone told me, it's Gross.
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