Be Prepared to Take Action Immediately

Apartments in New York City are often rented on the spot (this especially holds true in Manhattan). Therefore, your personal documentation is vital when viewing an apartment with your agent. The more information you have immediately available for the landlord, the more likely you are to attain the apartment. Such documentation includes:

1. Personal ID (i.e. Driver’s license, passport etc.).
2. A letter of employment/salary verification.
3. Tax returns from the last two years.
4. Recent (current) pay stubs from the last two pay periods, to show proof of income.
5. Current bank statements.
6. Contact information of previous landlords. Landlords like to see a rental history, if applicable.
7. Contact information of your accountant or attorney, if applicable.
8. Contact information of any personal or professional references.

When you are applying for your apartment, make sure you have a cashier's check or a money order with you because you may need to give a deposit at the time you submit the application. The deposit amount will typically be the equivalent of the first month’s rent plus one month security. The deposit amount will vary depending on the individual landlord, therefore you should be prepared to pay up to three months’ rent upfront to the landlord. This excludes any registration, application, credit check, or broker fees. Contact one of our listing agents to find out the exact fees involved with using a broker. Fees will vary depending on the landlord.

Most landlords require that new tenants have an annual income at least 40 times the monthly rent. If you are a student, recent college graduate, or cannot accommodate this requirement, a guarantor will most likely be required to co-sign the lease. As such, guarantors will need to produce the same documents itemized in 1-8 above as proof that they are qualified to be a co-signer on the lease. Often landlords also do not take guarantors that live out of the New York Metropolitan area. It is best to have someone in the area willing to co-sign before applying for an apartment.

Always ask about the fees involved before applying for the apartment or signing the lease. You may also want to find out what utilities are paid by the landlord, if any, and any pet policies.