Question about income requirements for renting (apartment, renter, credit check)

[anon37]

If I rent an apartment with someone else who is not related to me, and there is a requirement that monthly income be at least three times rent, can our incomes be combined to assess whether we meet this requirement?

[SeventhFloor]

i think thats a question you would have to ask the landlord.....we're not renting to you.

[anon37]

True. It was really a general question. I want to know what rent ranges I should look into, if I'm thinking of moving in with my girlfriend. I make more money, and I was wondering if the highest rent we can pay would be limited by my income, or by our combined income.

[SeventhFloor]

well how much do you and your girlfriend make a month? the usual rule is your should be spending 30% of your income after taxes on rent but in NYC thats a difficult task to achieve. honestly you have to sit down with her and make a budget to find out how much can you guys afford.

for example, lets say you found a 1 bdrm for $1000 a month. since she makes less, i assume you pay more of the rent, like you pay $650, she pays $350....see my point?

[holden125]

Originally Posted by anon37

If I rent an apartment with someone else who is not related to me, and there is a requirement that monthly income be at least three times rent, can our incomes be combined to assess whether we meet this requirement?

Generally you can combine the income of all tenants on the lease to meet the requirements. 3 times annual rent is 36 times monthly rent. A lot of landlords, at least in Manhattan and pricier parts of Brooklyn, are looking for 40 times or even 50 times monthly, which would limit you more. That is good since it would keep your rent at or below 30% of income, which is better in helping you budget for everything else. But it's generally the combined income that matters as long as both of you are on the lease.

[Colokev]

It's usually combined.

[omigawd]

Usually 40x the monthly rent. I would think if you're both signing the lease, it would be combined income. Most management companies also run a credit check.

[POLLIELAND]

A minimum income requirement sounds like discrimination to me. Is that legal?

[LadyR1990]

Originally Posted by POLLIELAND

A minimum income requirement sounds like discrimination to me. Is that legal?

No.

[nycgirl1616]

Originally Posted by POLLIELAND

A minimum income requirement sounds like discrimination to me. Is that legal?

It's completely legal. I don't blame a landlord for not wanting to rent to someone who can't pay the rent. And as a renter, why would you be entitled to an apartment you can't afford?

What IS illegal is to discriminate against a potential renter based on race, disability status, marital status if all other requirements to rent the apartment are met. However proving this isn't easy.