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renting a house in NYC

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renting a house in NYC [#permalink] New post 13 Apr 2011, 05:01
what are the prerequisites of renting a house in NYC (preferably a good apartment in manhattan). I heard that you have to a have a good credit record, and show c.a. 40x rent in your bank accounts and find a guarantor. Since I am not from US, I wont be able to meet any of those requirements. any advices please?
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Re: renting a house in NYC [#permalink] New post 25 Apr 2011, 12:04
The requirements are stringent, as you mentioned. Without a strong credit history and proof of sufficient income (35x - 40x the monthly rent), you will need to find a credit-worthy individual to co-sign the lease. It's not impossible, but it is definitely a headache.

I would contact your school (NYU, right?) to ask them what housing options they would recommend to international students in your situation. They've surely encountered this issue time and time again, and will probably offer some salient advice.

As an aside, some schools (e.g., Yale) actually own property around campus and lease apartments to students with significantly fewer credit / income requirements. Not sure if this is the case for NYU, but probably worth you asking.
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Re: renting a house in NYC [#permalink] New post 25 Apr 2011, 13:20
what if I can show money on a bank account or someone outside of us with money on a bank would that be enough.

or can I let say give a deposit of 4-5x of rent or even more as deposit and not have a guarantor?
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Re: renting a house in NYC [#permalink] New post 25 Apr 2011, 20:51
You can try! It will really depend on the landlord and how stringent they are about enforcing rental requirements.

One option would be to pay the full year's rent up front. Landlords wouldn't be concerned about the creditworthiness of an individual who doesn't owe them any money.

One thing is clear: you definitely aren't the only international student in NYC that will have to face this issue. Stern will have some good advice - give them a call.

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Re: renting a house in NYC [#permalink] New post 04 May 2011, 22:54
i agree... check with school first. if for whatever reason they leave you out in the cold, enlisting the help of an agent might be your only hope..
Re: renting a house in NYC   [#permalink] 04 May 2011, 22:54
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