NYC Rental Requirements & Apartment Application Checklist
Opting for renting in New York City is a common thing. Not too many people have the ability to buy a home that can cost even above $500,000. The great thing is that you can always rent a place. But, not too many people know about NYC rental requirements and how to make an apartment application. We are going to give you all information about how to do both of these things so that you could get a place as soon as possible. After you do this, you just have to find good movers that will make sure to understand and respect your needs, like Best Movers NYC, and let them handle the moving part. But, let us first take a look at how to rent an apartment in NYC!
NYC Rental Requirements you should know about
There can be many things that are different among the different places, but most of these rental requirements in New York City are basically the same.
- income requirements
- rental application
- supporting documents
Income requirements for renting an apartment in NYC
This is one of the most important requirements that you should be aware of. As we have said, New York City is not a cheap city to live in. That means that you will have to have a certain income so you could be eligible to rent an apartment. The income requirement is usually 40x the monthly rent. Of course, not for all places. For example, some places in Manhattan require this to be even 80x. You should know this before finding Manhattan movers that will relocate you. This is a crucial factor and you need to know it before you get into anything regarding renting a place in NYC.
Rental application – one of the most dreaded NYC rental requirements
Completing a rental application is usually not that hard. However, there are some things connected to it that you should be aware of, including the fees that you will have to pay. It is not an amount that is going to bother you, since it’s usually not a great sum of money, but you should still be aware of it. Also, you will need to sign any credit and do a background check authorization.
Prepare all the supporting documents when renting an apartment in NYC
When talking about requirements to rent a place in NYC, you will have a lot of paperwork to prepare. Renting is not an easy job when you just have to pay for rent and that is it. The paperwork alone is enough for some people to dread the idea of moving to New York City. But, it’ll all be worth it in the end. If you want to rent a place, you will have to get ahold of many documents along the way.
Proof of employment
Your proof of employment is just one of those. In most cases, the work number will be enough. However, you want to check this with your real estate agent and a landlord. It will help you avoid overthinking this matter.
Proof of income
This is a requirement for renting a place in NYC that can be different for different people. For example, if you are an employee, you will need W-2 and pay stubs. However, if you are an independent contractor, things are a bit different. You will need to submit tax returns, usually for the last two years.
Bank statements are necessary to know that you have the funds to pay rent
Another of the many NYC rental requirements that you have to come up with is obtaining bank statements. You will need to get a copy of at least 2 bank statements. Also, you need to show at least 2-3 months in the funds that you have in your account. As we have said, this is all to prove that you will be able to pay for the rent in the future.
You will also have to provide a copy of your ID. Of course, things are a bit more complicated if you are a foreigner because they need to provide their visa and passport.
How much is rent in NYC going to cost you?
We also have to address this matter. It is important to give you the right information about the costs of rent in New York City. The median rent price is $2,005 for a one-bedroom apartment and $2,117 for a two-bedroom apartment. The rent is inevitably higher than most places, but you’ve probably already made your peace with that. The good thing is that some places are more affordable. For example, the Bronx is one of the more affordable boroughs of NYC. You can find rent to be relatively cheap compared to rent in Manhattan. So, if you want to live here for more affordable prices, not just in rent, you should find Bronx movers to handle the move. Let your new life start in style!
Queens is another cheaper borough where you will not have to worry that much about paying rent
If you want to go cheaper in the city of New York, you have to be very careful. You first need to see how much is rent going to cost you across all of the boroughs. The average rent in Queens starts at $1,130 in Hollis, $1,972 in College Point, and so on. Due to these more affordable neighborhoods, the average rent in Queens is $2,780 for 715 square feet. But, we should not look only at rent. The everyday costs are also affordable here so Queens can be a great starting point for people that want to live in this great city. All you have to do now is find your Queens movers to help you with the move, find the right place for you to live, send an application for rent and that is it. You are in NYC and living your dream!
Even though there are many NYC rental requirements that you have to fulfill, it is worth it. New York City is one of the greatest places where you can be whoever you want and fulfill all your dreams without judgment. So, make the move and become a successful and accomplished person in the greatest city in the world!