Frequently Asked Questions
What is typically required by landlords for applications?
Landlords typically require an application, credit check, letter of employment, pay-stubs and recent tax returns.
How long does it take for approval?
Approval on a rental application can take one hour to one week. A coop sublet can take several weeks depending on when the board meets.
Does the building allow guarantors?
This is at the discretion of the landlord. Some require New York State residence while others allow Tri-State area or United States residence.
What does my guarantor need to do?
Typically, the income requirement for a guarantor is 80 times one month's rent. The guarantor must provide the same information as the primary applicant.
How much do I have to earn to be approved?
Your gross income must equal 35-50 times one month's rent.
Is the building pet friendly?
This depends on the building. Some buildings allow pets while some do not.
Where is public transportation?
MTA maps are available complimentary at every token booth throughout the City.
Can I construct a wall in my new apartment?
Depending on the landlord, some allow tenants to construct walls in apartments; however, the landlords require that the tenant returns the apartment to its original condition. Failure to do so may result in the loss of the tenant's security deposit.
What is included in the rent?
Usually heat and hot water is included in your rent. Electric heat is not, that would be included in your electric bill.
What is a security deposit?
A security deposit is generally one month's rent, though this can vary in each building.
Can I put my own lock on the door?
Yes, however a copy of the key may be requested by the landlord.
Can I paint the walls?
Yes, but they must be restored to the original color before you vacate.
Will the apartment be pre wired for phone and cable?
Most new buildings are pre-wired for cable and phone lines must be activated. If not, arrangements can be made to install these services.
What is a convertible three?
A two bedroom with an alcove or dining room that can be converted into a third bedroom.
What is a junior four?
A one bedroom, often with 1 ½ bathrooms and has a dining area that can be converted into a second bedroom.
What is a rent-stabilized apartment?
Rent stabilized units in New York City are those apartments in buildings of six or more units built between February 1, 1947 and January 1, 1974. Tenants are entitled to receive required services, to have their leases renewed, and may not be evicted except on grounds allowed by law. Rent increases on lease renewals depend on the current rent stabilization guidelines. Typically, the rent increases are between 2% and 5% annually.
What is a rent-controlled apartment?
For an apartment to be rent controlled the tenant must have been living there continuously since before July 1, 1971. When a rent controlled apartment becomes vacant, it either becomes rent stabilized or is removed from regulation.
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