Renting a Room, Rent... (Accord: apartments, lease, credit check)

[rsdplaya]

I'm graduating college next spring and hoping to move out to NYC within a year or so of that. Of course, I'll make sure to land a job before moving out...BUT...

From the research I've been doing, you need to make 40-50x your monthly rent in order to be able to rent a place...

1. Is that really throughout NYC or mainly in Manhattan?

2. Seems like the only way I'd be able to get a place at first would be to go through the rent a room thing (cuz I really don't have a real career job making money since I'm in school), where someone's looking for a roommate. Do I have other options besides this?

[nycgirl1616]

Originally Posted by rsdplaya

I'm graduating college next spring and hoping to move out to NYC within a year or so of that. Of course, I'll make sure to land a job before moving out...BUT...

From the research I've been doing, you need to make 40-50x your monthly rent in order to be able to rent a place...

1. Is that really throughout NYC or mainly in Manhattan?

2. Seems like the only way I'd be able to get a place at first would be to go through the rent a room thing (cuz I really don't have a real career job making money since I'm in school), where someone's looking for a roommate. Do I have other options besides this?

All I know is that I was looking for an apartment a few years ago before I finally wound up renting from relatives and *I* was told by 2 brokers for 2 different buildings that the income requirement was 60-80x monthly rent per year. According to others on here that is not the norm, but that was my personal experience, as well as other people I know who were looking for an apartment at the same time I was. It may be that because I was at my job less than 3 years that they throw that in there to make sure you can pay the rent? Maybe these landlords were just stricter?? I'm really not sure. I did also look at an apartment in Park Slope and I was told something around 40x even though the rent was similiar, I don't know why it was so much different.

I would look on craigslist for people searching for roommates. There are a lot of people out there looking, and you can search for rooms for rent within your price range and see what your options are. Another thing you can do is look for places that people are looking to sublet. Some people move or stay out of town for a while and they just want someone to pay some or all of the rent while they are gone. Sometimes if they have a pet or something that they can't take with them, they will decrease the cost of the rent in exchange for pet care.

Good luck with your search

[rsdplaya]

thanks for the info. so, if i'm just searching say craigslist for a roommate who already has a place, i probably won't be required to do any income verification? i'm hoping!!! i mean, i'll probably get a temp. job after i graduate for like 6 months, so i'll have some income, but nothing near what would be required to get a place!

[nycgirl1616]

Originally Posted by rsdplaya

thanks for the info. so, if i'm just searching say craigslist for a roommate who already has a place, i probably won't be required to do any income verification? i'm hoping!!! i mean, i'll probably get a temp. job after i graduate for like 6 months, so i'll have some income, but nothing near what would be required to get a place!

That all depends on the landlord and the roommate. My friend is now living in Park Slope with a roommate she found on craigslist, and they have no lease. In these situations, I bet if you show up with enough cash to cover a few months rent, even if you have no income, the roommate or landlord might be cool with that in addition to a credit check. I have heard before about people getting a letter from a company with a job offer and salary included in that letter being good enough proof. When you find some apartments that you are seriously considering, you will figure out from there what to do. Don't give anyone any money until you know all is legit.