Connected Realty Group

Rental Guide

Welcome to the New York City residential rental market. The following are the general requirements required by most landlords in NYC. (Please be advised that more information maybe required.)

1. Completed Rental Application
2. Income verification for each tenant/guarantor in at least one or more of the following forms:

· Copy of last two years tax return.

· Copy of last two years W-2 or 1099 tax statement.

· Letter of employment indicating position, length of employment & compensation.

· Letter from certified public accountant (CPA) indicating income and how long the CPA has been representing the applicant. (For those who are self-employed.)

· Two most recent paycheck stubs.

General income requirements are approximately 45 times the monthly rent as an annual gross income for a tenant and 70 times the monthly rent as an annual gross income for a guarantor. Shares and married couples are permitted to combine their income to meet the minimum requirement.

3. Asset Verification in one or more of the following forms:

· two most recent bank statements.

· Stock portfolio statement.

· Proof of real estate ownership.

· Assets and liabilities statement from CPA.

· Net worth statement from CPA.

4. Landlord reference letter from your previous landlord if applicable.

5. Processing fee $50.00 to $100.00 per applicant depending on the landlord.

6. Good credit is one of the most important criteria for any landlord. If you do not have good credit, or you have yet to establish credit in the U.S., extra security or some prepaid rent might be required from you in order to execute a residential lease.

All information furnished is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and is submitted subject to errors, omissions, changes of price or other conditions, prior sales, or withdrawal without notice.
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