If you don't have someone who's willing or able to act as a guarantor (or if one qualifying parent is reluctant to act as the guarantor for you and your roommates), there are services such as Insurent (FYI, a Brick sponsor) that, for a fee, will act as guarantor. In addition to credit score and income requirements, guarantors are usually required to have an income of at least 80 times the rent (so they can pay your rent and their own housing expenses), and many landlords insist that they live within the tri-state area (New York, New Jersey, or Connecticut) so its easier for them to collect money if things go south. If you or your roommates don't collectively meet these qualifications, you might need to get what's known as a guarantor-a financially stable party (usually a parent) who guarantees to the landlord that they will pay the rent if you don't or can't. (On this front, make sure your name has been removed from any utility bills associated with your former college housing, so your credit isn't affected by any delinquency after you move out.) You'll also need to have a good credit score, generally 680 or higher. (That means you'd make at least $80,000 a year to get a $ 2,000-a-month apartment.) The bar is set higher than perhaps any other city.įor starters, most landlords require that your annual earnings equal at least 40 times the monthly rent, which can be a tall order on a postgrad's salary. Let's get this one out of the way: It takes a lot to qualify financially for a standard rental apartment in NYC. With fully equipped apartments, they never require guests to use a guarantor or cosigner! Plus, it’s a simple, hassle-free process to find and book your new home with Blueground. Avoid the complications of guarantors completely when you opt for a flexible furnished rental apartment from Blueground.
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