Renting an apartment in New York can be tricky, there are certain guidelines that are important to know and I would like to give you a step-by-step guide. Instead of the process being bumpy and stressful, I will help you run it nice and easy.

1. Basic

Prepare your documentation; even before you set out on the search make sure you have the following

1. A Letter of employment with the date on it
2. Savings and checking statements
3. Contact information of previous landlords for reference.
4. Personal and business references’ contact information.
5. Tax returns, W-2 forms, pay stubs and expected bonus (if any)
6. Additional sources of income with verifiable information
7. A government-issued form of Identification with a photograph.

2. What you are looking for

Contact me with details about the type of apartment you would like. I will be able to talk to you about different neighborhoods if you are not from Manhattan. Having a local scoop is a major advantage, you can narrow down your search this way and find the place that suits your needs best. Try to answer the following questions,

1. Determine your target move-in date? Are you prepared to make the necessary payments to secure your apartment? Manhattan is a very fast-moving market; apartments available today may no longer be available by next week or even by the next day. You have to be ready to act quickly.
2. Is there a certain neighborhood that you prefer?
3. Is transportation close by?
4. Is there parking?
5. What are the features of the neighborhood? Stores, parks, restaurants, cafes, commute to work, etc.
6. Do you prefer a building with elevator or walk-up?
7. Pre-war, post-war, brownstone, modern or luxury? Co-op or condo? An agent will help you narrow down your choices by providing you with details among the various types of buildings available.
8. What size are you looking for? Studio, 1 bedroom, 2 bedroom or larger?
9. What are your absolute must-have amenities? (i.e. laundry, concierge, fitness center, rooftop, etc)

3. Requirements for the tenant

Manhattan is the epicenter of NYC; apartments are always in high demand and prices can run very high. Therefore there certain requirements that tenants need to meet.

• Affordability - as a guideline, you can expect to pay 25% of your gross annual salary for rent.
• Financial Eligibility – Most landlords require that your annually salary should be 40-50 times the amount of the monthly rent. Hence if your rent is of $3,000 your required minimum salary is of $120,000 a year. Landlords tend to be very strict about these guidelines, and co-op buildings can be even more demanding.
• Lease Guarantors – If your financial picture does not meet the landlord’s expectations, a guarantor or co-signor will be needed. For the most part, family members that already own properties in the tri-state area are preferred. This guarantor must have a significant income (your agent will help you determine) and must proper have financial documentation. You should prepare your guarantor in advance.
• Foreigners – If you pay taxes outside the US, and have an allowance from your employee then your eligibility will be evaluated differently. Your agent will help you determine what are the documents needed if this is your case.

4. Initial funds

Make sure you have sufficient funds to cover the initial costs like the first month’s rent and the one-month security deposit. Funds to cover the broker’s fee and the initial credit check fee of $25-$100. Also allow additional funds for possible move-in/move-out fees.

5. Take a tour

Set an appointment with me and we will go see the apartments available.

6. Process your application

Once you have come to a decision on the property that you’d like rent you will fill out a rental application. I will negotiate the lease terms and price for you. If accepted, a credit report and background check will be done. Any references you provide will be checked.

7. Sign the lease & Move in

If all goes smoothly and terms are agreed between both parties, the lease will be signed. Soon after presenting the checks, the move-in date will be established.

Sounds easy right? Well, It is. As long as you are organized with the paperwork needed and you have an idea of where you want to live with a set budget, your search will run smoothly. I will be more than happy to guide you every step of the way.

If you are ready to start the process give me call! My Manhattan Real Estate expertise will play a major role in finding the best place for you.

~ David Calderazzo