Tips for Apartment Rental Applicants

Hello NYC apartment renters! I have been receiving many customer applications for rentals lately and wanted to pass along some tips to getting your application approved faster!

Be organized! - When you are actively searching for an apartment, minutes and hours can make a difference if you are approved or not. Make sure you have at minimum the following documents prepared in a 3Mg or under PDF file:

IMPORTANT!

MAKE SURE TO FILL OUT THE RENTAL APPLICATION COMPLETELY AND ACCURATELY!

PROVIDE:

A) Your identification in low - medium res jpeg form. Best if it's a drivers license. Make sure it is not a huge high res file. Big files cause problems when rendering and reading your PDF. Best to use 1080H x 1350W format.

B) Provide wo most recent years of the top page of your federal income tax, showing your adjusted gross income.

C) Two most recent months of your checking and savings summary pages only.

D) Job letter stating: 1) job title 2) length of employment 3) salary 4) Supervisors name, email/phone number and hours available to discuss your application.

E) If possible, a landlord letter stating that you have paid rent on time for the duration of your rental.

F) Make sure you are financially eligible for the apartment. This means you have at minimum, 3 - 5 months of savings to cover rent and at least 36X annual income in relation to one months rent. For instance, if an apartment's rent is $2,000 per month, you should have an adjusted gross income of $72,000 per year. This varies from landlord to landlord.

G) If you do not meet the criteria in "F" be prepared to have a personal guarantor who makes 70X adjusted gross income and is willing to sign onto the lease as a guarantor. Your guarantor will need to fill out the rental application AND have a credit check completed.

Lastly, it is entirely up to the landlord/owner of the building regarding the approval of your application. As your real estate agent, I will make sure all documents are complete and in order, but I have no power to make a decision regarding approvals. Sometimes, landlords will take days to make a decision. This is out of my control. Be prepared to wait.

Please feel free to contact me at anytime with any questions you may have and I will do my best to assist you!

Alan Lupiani - Modern Spaces alan@modernspacesnyc.com 917.613.8135

Sunnyside Queens Home Seekers!

Hello there. I am here to help you find the perfect home for rent or to buy! I have over three years of experience with my boots on the ground, previewing new listings every week! See the slideshow below to view some of the recent rentals I previewed this past week! The pictures below are one bedroom apartments ranging from $1650 - $1,900. I often get the inside scoop regarding potential sales listings as well, so please feel free to reach out and discuss with me and any time!

Alan Lupiani - Licensed Real Estate Agent, Modern Spaces - LIC

917.613.8135

alan@modernspacesnyc.com

NYC Stabilized Rents!

Hello y'all...especially to NYC landlords out there who own or rent stabilized buildings. I have recently been doing previews of rent stabilized apartments and am shocked by how many landlords are not up-to-date regarding the new rent stabilization guidelines passed into law June 2019. I have attached a link here to REBNY's summary of these changes.

There are a whole slew of changes to be noted. Most specifically the monthly rental amount one can charge to new tenants. For your own benefit, contact the NYC Rent Guidelines Board regarding your building. Their number is 212.669.7480.

Please feel free to contact me if you have an apartment to rent or building to sell. I will follow all REBNY guidelines to ensure that your lease and/or sale goes smoothly! alan@modernspacesnyc.com. 917.613.8135.

Photo by Nelson Ndongala on Unsplash