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Could anyone advise, please. I have to move to NYC in January 2010. I am looking to rent a 2br for about 1500. I have never rented before and my credit is not perfect. Will this be a problem??/What areas can I afford at 1500??? Thanks for your help.
Could anyone advise, please. I have to move to NYC in January 2010. I am looking to rent a 2br for about 1500. I have never rented before and my credit is not perfect. Will this be a problem??/What areas can I afford at 1500??? Thanks for your help.
It'll be a problem if your credit is below 700, you've been at your job less than 2 years and you have no rental history in NYC. I'd suggest trying to get something in a private house where the landlord will let those things slide if they're desperate to rent or you just make a good impression on them. Then you can build your rental history and tenure at your job so real landlords in large apartments will be willing to rent to you.
You may want to consider Queens or Brooklyn. I doubt you'll find a 2-bedroom for that budget in Manhattan unless your willing to share. And considering that you'll need to make about 40x your rent in annual income, not sure if you make it. I agree with biskit that you may want to try a house or a landlord owned smaller building who might be willing to let credit history slide.
It'll be a problem if your credit is below 700, you've been at your job less than 2 years and you have no rental history in NYC. I'd suggest trying to get something in a private house where the landlord will let those things slide if they're desperate to rent or you just make a good impression on them. Then you can build your rental history and tenure at your job so real landlords in large apartments will be willing to rent to you.
How would one go about doing this? I have a college age child who is going to apply for a summer internship 2010 and your info would help us out tremendously. Somewhere near midtown, I think near 57th? 9th and 57th?
How would one go about doing this? I have a college age child who is going to apply for a summer internship 2010 and your info would help us out tremendously. Somewhere near midtown, I think near 57th? 9th and 57th?
Do share!
If you make 90x the annual rent of the apartment, you can cosign the lease as a guarantor. If apt is 2k/mo, you'd have to make $180k to cosign.
If not, I'd have your child look for a share with a roommate.
^^^^ Perhaps I misunderstood... I'd suggest trying to get something in a private house where the landlord will let those things slide if they're desperate to rent or you just make a good impression on them. Then you can build your rental history and tenure at your job so real landlords in large apartments will be willing to rent to you. (Cut and Paste) What I understood was to rent from someone owning a private home...I do not understand why I would need to cosign, my child has excellent credit for an 18 year old and excellent savings, she has been working since she was 16 years old and saving everything she makes. She currently lives at home with parents so has no bills. I am sure there are roommate options, but I was just asking for more info about what I understood this poster to say.
Last edited by LovingSAT; 07-02-2009 at 07:07 PM..
Reason: Typo
^^^^ Perhaps I misunderstood... I'd suggest trying to get something in a private house where the landlord will let those things slide if they're desperate to rent or you just make a good impression on them. Then you can build your rental history and tenure at your job so real landlords in large apartments will be willing to rent to you. (Cut and Paste) What I understood was to rent from someone owning a private home...I do not understand why I would need to cosign, my child has excellent credit for an 18 year old and excellent savings, she has been working since she was 16 years old and saving everything she makes. She currently lives at home with parents so has no bills. I am sure there are roommate options, but I was just asking for more info about what I understood this poster to say.
Your earlier response made it sound as though you needed a way for your child to find an apartment; that she apparently couldn't get one on her own.
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