renters guide

Renters Guide

The options are countless and time is of the essence in this high-demand market. Let a professional lead you through the process and help you make it an enjoyable experience.

We will listen to your needs, review all the options, and then show you the best of what is out there. We will prepare you in advance for all possibilities and make sure that you don’t miss out on any opportunity to rent the perfect home.

What to Bring?

• Proof of income.
• Employer verification letter – On company
  letterhead, signed by supervisor stating .
  
  
  • Salary
  • Guaranteed bonus
  • Title
  • Start date
  • Housing allowance, if any


• Most recent pay stubs
• Last 2 Year’s tax returns
• Copy of driver’s license or passport
• Credit application information showing names, phone numbers, addresses of
  • Employer
  • Banker
  • Accountant
  • Last Landlords
  • Guarantor


• Most recent bank statement and stock portfolio statement, if any.
• Money .
  • First month’s rent
  • Security deposit
  • Application fees ($25 – $50)
  • Brokerage fee (15% of the annual rent)

Rent & security are due, usually in the form of two certified checks, on the business day following apartment selection. If you do not have an account established here, you may choose to bring travelers checks or arrange to have funds wired to an appropriate account here in Manhattan.

Financial Qualification

Most landlords require that you make 40-50 times the
amount of monthly rent. Outstanding loans, assets
liquidation, credit and rent history are also taken
into consideration.

Guarantors

If you do not meet the financial requirements of the
landlord, you may be required to obtain a lease guarantor.
The guarantor must be financially able and qualified to
pay your rent as well as comfortably carry his or her
financial responsibilities in case you default on the
lease.

Many landlords require a Tri-state guarantor and
prefer a relative. If you are being relocated by your
company and need a guarantor, you should check with
human resources to see if the company will provide one. They
often do.

Credit Check

An application fee ranges between $25-50 and will cover
the cost of your credit check. A good credit rating should
have no delinquent or collection accounts, over 60%
available credit and no substantial amount of debt.
Some landlords are more flexible than others when it
comes to credit.

Board approvals

If you are subleasing a co-op or leasing a
condominium, board approval will be required.
Condominiums are very easy and almost never reject
renters. Co-ops are stricter and may require a
personal interview. Some co-op boards may only meet
once a month or even once every two months. Your interview date may
depend on it.