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Hey Everyone; I'm entering my second year at Columbia University and attending on the GI Bill. I'm having an issue qualifying for an apartment since my only income is the housing allowance from the VA (about $3800/month). My first year I was able to get housing through the school, however this year my position on the waitlist looks to be to high to actually get an assignment.
I have approximately 6k cash on hand, so putting down first-months rent + security deposit on an apartment shouldn't be an issue as I'm currently looking in the $1500-1900 range. Unfortunately, I havent been able to find anywhere that since those housing allowance payments are usually either not considered "qualifying income"/dont meet the 40x income threshold. My mother is likely the only person I could use as a guarantor, however her income is only approximately 65k/year so she wouldnt meet the 80x income.
I'm hoping that I might be able to find some veterans that have gone through this and have some tips or anyone that has experience in a similar situation. I've seen it recommended in somewhat similar scenarios to try and go through a building owner directly but I'm at a loss of how to approach that/find information on owners directly. I live about 6 hours upstate which makes it difficult to go walk the streets looking for buildings.
Thanks in advance for any tips anyone might have!
Edit: Forgot to mention: I'd prefer to stay somewhere in the vicinity of the UWS or Morningside... Ive also been looking north towards Inwood/Washington Heights/ Riverside and am not opposed to living further but would like to keep my commute around 30-40 mins at max.
They're crazy to not consider those payments as guaranteed income.
Most people in NY have such little idea about veteran benefits. Try to explain it and showcase where your money is coming from and how it will be distributed.
That is what I had expected, however since theres no pay stub/W2 it would look "paperwork-wise" like I had no income. Im not sure what the tax burden is like for an earner in the city but I cant imagine that $3800 untaxed is significantly below what someone making $50k/year is bringing home each month?
When I had the Gi Bill I was able to rent an apartment in Astoria Queens. I showed the broker lady my statements where the bah deposits were being made and also the letter we get from the VA every semester saying how much we will be getting.
Does anyone doubt my reasons for wanting every NYC landlord drowned in the Hudson?
Guy puts his life on the line and some lard-assed cretin, whose only contribution to the country is counting his money, won't consider the veteran's government guaranteed check as suitable income.
DJ, walk the streets and ring some doorbells, talk to supers. You will find some realty company or private landlord who doesn't have his head buried firmly in his ass.
Talk to your Dean of Students and lay out your problem, perhaps he has some good suggestions for you. After all Columbia is getting a small fortune from the government for your matriculation...they owe you.
By now he most likely found a place reasonable close to school.
But for future reference anyone in this situation can just post ads on Craigslist and reply to ads on Craigslist. You'll find a reasonable property manager who will take the veterans benefits housing allowance. And as Kefir suggested Columbia has an off campus housing office that lists properties in the neighborhood as well.
That is what I had expected, however since theres no pay stub/W2 it would look "paperwork-wise" like I had no income. Im not sure what the tax burden is like for an earner in the city but I cant imagine that $3800 untaxed is significantly below what someone making $50k/year is bringing home each month?
It's a lot more than 50K a year.
50K a year you maybe take home $3000 a month, or maybe a touch more.
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