Application Process (Renters)

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What do landlords consider as a good credit score, for the purposes of the application process? Are there specific tiers or ranges?

Under which circumstances would I need to use a guarantor when applying for an apartment rental?

There are multiple situations where you would need to use a guarantor in order to get approved for an apartment.  These can include the following: not meeting minimum income requirements, possessing bad...

What are the typical landlord income requirements for getting approved for a rental apartment?

Most management companies / landlords require annual income of at least 40x monthly rent for applicants.  However, this can sometimes vary from 35-50x.  If this requirement cannot be met, a guarantor is...

What are the typical landlord requirements for a guarantor when applying for a rental apartment?

Requirements for guarantors can vary among management companies / landlords, but most will require a certain level of income, good credit, proof of substantial assets and potentially holding residence in specific locations. ...

If I give a real estate agent or landlord cash, checks or my credit card information during the application process, should I get a receipt or some sort of documentation?

Yes, you should definitely ask for a receipt or documentation when providing any type of payment to an agent or landlord / management company.  Various payments can include a deposit, application fee,...

What paperwork is required when submitting an application for an apartment rental?

Paperwork requirements tend to vary among landlords / management companies, so each situation may be different.  To be sure of the exact requirements, visit the landlord / mgmt co’s website, contact them...

What are typical application fees when applying for a rental apartment?

Application fees can range from approximately $50-150, depending on the management company / landlord.  For condos and coops, this fee can sometimes be even higher at several hundred dollars per unit or...

When applying for an apartment rental, if I’m not sure that my income and/or credit will qualify, should I use a guarantor if I have access to one?

In general, using a guarantor for your application should only strengthen it and improve your chances of being approved.  However, if a guarantor ends up not being necessary, you can save that...

A landlord is offering new tenants the ability to lock in a two year lease at a fixed monthly rent. Should I do it or stick with one year?

This depends on multiple factors, but it really comes down to certainty that you’ll be happy living in the same apartment for the next two years and how the market and economy...

Is it a problem to submit an incomplete rental application to a landlord or management company?

It really depends which paperwork you are missing and how strict the management company / landlord is with its requirements.  Many mgmt cos / landlords require a full application to be handed...