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
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