Tenants Guide

Most landlords in New York City, typically require a tenant to earn a minimum of (40x to 50x) times the monthly rent.  For example, if the monthly rent is $2,000 the applicant should earn no less than $80,000 to $100,000 (40 x $2,000=$80,000).  Applicant should have stable employment history and good credit rating.  If an applicant does not meet these requirements, a guarantor or extra security may be used.

Guarantors are generally required to go through the same application process as the tenant.  The Guarantor should earn 80 to 100 times the monthly rent and have good credit.  A guarantor is a person who accepts financial liability in the event the tenant fails to pay the rent. A guarantor guarantees the rent for the entire lease term. 

Typically one month’s deposit and one month’s security, required at time of lease signing.   Additional security may be required under certain circumstances.  Landlord acceptable forms of payment are certified checks or money orders.  Personal checks or cash are not acceptable forms of payment.

Additional information needed for qualification

Most landlords and management companies require copies of the tenants most recent bank statement, including  checking, or savings account. Most rental applications require the tenants bank account information, employment verification letter, (2) most recent pay stubs, Federal Tax return, landlord, business and personal reference letters.  

   


Company Sales Rentals Testimonials Contact
Canion Investment Group Real Estate
Ph: 1-646-688-4114  -  Fax: 1-646-688-5157
295 Madison Avenue, 12th Floor
New York, NY 10017
www.canionig.com

All building, property and apartment information is from sources deemed reliable but is subject to errors, omissions, changes, in price, prior sale or withdrawal from market without notice. No representation is made as to the accuracy of any description or the usage of the property. All measurements are approximate. For exact dimensions, you must hire your own architect or engineer. Canion Investment Group operates in accordance with the Fair Housing Act, Title VIII of The Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (Disability).
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