It’s that time of year again – rental season in NYC! Want to make sure you have a leg up on the competition? Check out this post!
The summer not only means warmer temperatures – it also means that we’re in right smack in the middle of the rental high season. This time of year, rental inventory tends to be at its peak, but then again, so is the competition. So what on earth can you do as a prospective renter to get a leg up? Here are a few tips:
Know What You Can Afford
- Most landlords want to see an income of 40 to 50 times the monthly rent for individual renters. If you have a roommate, some landlords might allow you to combine your income to reach this target, but be forewarned – many will not, which means you’ll need a guarantor.
- Most landlords require guarantors to have excellent credit plus an income of about 80 times the monthly rent.
- You should also do some research about the current prices in your desired neighborhoods. Two great…
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