Brickunderground on "Ways renting in NYC is unlike anywhere else"
Brick Underground offers all the reasons why renting in New York is so tough!
You’ll Probably Need a Guarantor:
Most landlords in New York require that tenants earn an annual salary of 40 to 50 times the monthly rent. If you don’t, they’ll ask for a guarantor who lives in the tri-state area and makes 80 to 100 times your rent.
Instead of a guarantor, some landlords will accept a higher security deposit (two to six months of rent) or prepayment of part of the first year’s rent. Note that rent-stabilized buildings – many of which are newer rental buildings, are not allowed to take a higher security deposit.
In this situation, Insurent can help because we act as a professional guarantor for tenants with clean credit histories.
If U.S. – 80% of a month’s rent
- If International/no U.S. credit record: 110% of a month’s rent