8 Documents You Need To Rent In New York (The Complete List)

 Now that you’ve found an apartment in New York City that you love, you are now ready to submit your application.

First off, it’s crucial to have the necessary paperwork beforehand before you go apartment hunting. If you don’t already know, New York City apartments are prime properties -- competition is fierce.

The time it takes you to gather all the necessary paperwork is just the time it takes for another well-prepared renter to secure it. It is what makes the difference between landing an NYC apartment and losing it to someone else.

Here’s all the paperwork you need (and more) to rent in New York:

Employment Letter

New York landlords will not rent out an apartment to someone without a job. The letter of employment should state the length of employment and your salary. It should also be on a company letterhead, otherwise, anyone can just create a bogus letter of employment, right?

Also, a job offer is not a letter of employment. Your HR department should be able to provide you with a legitimate employment letter.

Paystubs

Some landlords require paystubs for the last 4 months, while some accept just 2 months. With competition being fierce, it’s best to prepare copies of your 4 last paystubs.

If you’re self-employed, have your accountant prepare a document stating the nature of your business, how long you’ve been in business and your annual income.

Tax Returns

You will also need to provide tax returns with the first page and the signature page of your tax returns for the last 2 years.

The landlord will look at your adjusted gross income -- and it should be at least 40 percent of the monthly rent. What this means is that if you’re looking at an apartment for $3000 a month, you need to earn at least $120000 annually.

Bank statements

If it’s your first time renting a New York apartment, you probably don’t have a lot of money sitting in the bank.

While the landlord won’t need to see assets, he or she needs to know that you have a bank account that’s in good standing, which is proven by a bank statement provided by the bank itself. Landlords will typically require your complete bank statement.

Reference Letter From Previous Landlords

New York City landlords want a reference letter from your previous landlord. The letter should state how long you rented the apartment, how much your monthly rent was, and whether you paid your rent on time.

An added bonus is if they would love to have you back. The letter should also include your previous landlord’s email address and phone number.

Your Guarantor’s Papework

If you have a guarantor, you will also need his or her paperwork, basically all the paperwork required of you except the certified bank checks and reference letter.

Take note that guarantors need to make at least 80 times the monthly rent. For a $3000 apartment, your guarantor needs an annual income of $240000.

Identification Cards

Also have a copy of your driver's license, passport, and social security card ready.

Bank Certified Checks

New York City landlords will require the first month’s rent and a security deposit, so make sure to have a bank certified check on hand.

Make sure you have 4 times the monthly rent in your bank account that covers the first month’s rent, the security deposit, and other fees such as the application fee and the credit check fee.

The credit check fee is non-refundable in the event that you do not get approved or selected.

One thing to note about your security deposit...

While many landlords take your security deposit to take the apartment off the market, make sure to get a receipt or a signed contract because if you do not get approved, you can get a full refund on the security deposit. If you get approved, however, it immediately goes to the first month’s rent.

Lastly, not all New York City landlords are the same. Some may require complete and elaborate paperwork, while some just need a few documents. If it’s a really desirable neighborhood, chances are, the landlord will be extremely stringent.

But, having all of the items mentioned here ready will make everything flow easy. Once you’ve found an apartment you love, you can lose it in the time it takes for you to secure a reference letter from your previous landlord!

Good luck and hope you land the New York City apartment of your dreams!

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