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 directly or ask your real estate agent, if you are working with one.

When applying for an apartment, in addition to the required paperwork, each tenant (and guarantor, if applicable) must completely fill out an application and pay an application fee, generally ranging from $50-200 (can be higher for condo / co-op applications).

The following is a summary of various types of paperwork that may be required to accompany an application for a rental apartment:

Generally Required

  • Photo ID (copy) – driver’s license or passport (and visa, if international)
  • Letter of Employment (LOE) – on company letterhead stating current salary (plus guaranteed bonus, additional income, etc.), length of employment & position, signed by supervisor or human resources
    • If self-employed, letter stating income for the previous two years from your accountant (CPA) and/or prior two years tax returns (1099 forms)
  • 2-3 prior pay stubs (copies)
  • Prior 1-2 years of 1040, 1099 or equivalent forms (tax returns)
  • Most recent bank and/or investment account(s) statements (1-2 months)

Other Potential Requirements

  • Most recent W-2
  • Current landlord (or most recent landlord) reference letter – stating you are in good standing, have been a solid tenant and pay your rent in a timely manner (include contact information for landlord)
  • 1-2 contacts or letters of reference (business / personal)
  • Various forms (disclosure, release authorization, agreement, etc.)

Additional Documentation
The NYC rental market is very competitive, so anything you can do to make your application stand out in a positive way will only help you get that much closer to getting approved for your next home.  The more documentation you provide that demonstrates you are a stable and financially responsible individual, the better chances you’ll have of being approved for an apartment.

Guarantors
Paperwork requirements for guarantors are generally similar to those for prospective tenants, but can vary slightly and require additional paperwork, forms or agreements to be completed.

Categories:
Renters  |  Application Process