New York City Apartments – Rental Requirements
Renting a New York City Apartments in the Manhattan rental market is the best place. You have to learn more about the NYC Apartments rental market and also about the rental building requirements. All apartments consider rental requirements. Below are given some of the common requirements for rentals.
Common requirements to rent in New York City Apartments are as follows:
1. You need to pay some application fee if you want to rent a NYC Apartments around $ 50 to $ 125 depending on the areas you are looking for. The application fee in non-refundable and if there are any guarantors then you need to pay the same fee.
2. Your income should be around $ 80,000 per year, the rent of the New York City apartments rental requires around 40 to 50 times of the income requirements for example suppose you are paying an apartment rent around $ 2000 is multiplied by 40 or 50 times it is like $ 2000 x 50 =$ 80,000 that means the applicant has to earn $ 80,000 to rent an apartment. If there is insurer, then the requirements are even increased more around 75 to 100 times the total rent on the apartment. That means they need to earn more around $ 150,000 for example the rent of an apartment is $ 2000 x 75 = $ 150,000, if the applicant or insurer earn less than that again they need to pay additional security.
3. Manhattan rental house owners mostly as for the pay stubs or/and letter from the company which indicates what are post of the applicant’s and guarantor’s in that company, salary and length of employment for verification. If you are self-employed, you need to provide a letter from CPA indicating your income for the previous year as well as income for the current year.
4. Some Manhattan rental owners asks for a last few bank statements to verify that you have sufficient assets, some of them even asks you to have certain amount in your bank account
5. Some New York City Apartments rental owner ask for your last year’s tax return to verify your income.
6. Some owner in New York City even asks for the last few canceled checks to verify that you paid your rent on time.
7. All owners ask for identification which can be a driver’s license or a passport, etc.
Once everything is submitted and everything is approved than you can sign the lease by paying the security deposit that is usually one month’s rent and first month’s rent both are paid and both are paid with certified funds. After that you are ready to rent the apartment.
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