Also, many NYC buildings have ridiculous requirements when applying for apartments. If you are traveling in from out of town, I would suggest having the following when possible:
- Prior year's tax return and primary W-2
- Bank statements showing current balances
- A reference letter from your current/prior landlord (Can be very simple, just stating that you paid your rent on time and were a good tenant.)
- 1-1.5 times monthly rent for security deposit, plus a few hundred dollars for rental applications/credit check fees
- A cosignor
The last point can be tricky. Generally, buildings require you to have 48 times monthly rent in AGI. Most will allow you and your spouse/roommate to combine your income to meet that requirement. If you don't have that (we're students now), you can have a cosignor, but you and the cosignor will have to have 96 times monthly rent in AGI. Many buildings won't allow out of state cosignors or will only allow NY/NJ/CT cosignors.
Don't worry too much about any of these requirements, as they vary by building/management company. It's just helpful to know these things in advance so you can discuss them with the broker/management company before wasting your time looking at specific properties. Also, it helps having all of the paperwork and money squared away if you are coming here for 3 days and want to sign a lease.
Most NYC apartments aren't leased more than 4-6 weeks in advance of move in, so you can either come a little before school starts and find a place to move into within 1-2 weeks or you can come over the summer to look.
Be sure to ask if they offer 2 year leases, so you can get a month or 2 thrown in for free or a reduced security deposit. That can really drive the price down.
Sorry for the length, just trying to be comprehensive.
I 100% agree with this. The requirements can be ridiculous. Be prepared to have a co-signer if you don't meet all the requirements. My co-signer was from CA, but thankfully he was accepted (when I lived in NYC)
It might be a pain to get to class, but I have a feeling that it's probably easier to rent outside of manhattan so don't freak out if you feel like you might not meet all these requirements.