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22
APR
No Guarantor? Don’t Panic!
Did you know.. to rent an apartment in NYC, you need to earn annually at least 40 to 50 times the amount of the monthly rent.
If the rent is $1500 per month, you may need to show approx. $60,000 in annual income!
Don't have that much money? You need a guarantor.
Don't have a guarator either? Don't panic!
It’s hard enough finding a decent apartment in NYC, let alone getting approved if you’re an international student. The Big Apple is notorious for having some of the most demanding landlords you’ll ever meet, so make sure you come prepared for the battle.
Here are some testimonials of first-hand experiences from international students who found a way to beat the credit system:
"I moved to New York in August 2014 from Belgium, to start my Graduate degree at NYU. I had been warned about the difficulties of signing a lease as a foreign student, so my parents came with me prepared with all the supporting documentation we could possibly think of.
After negotiating with the landlord for 2 days, he finally agreed to let me sign the lease on an apartment I loved!
What made him agree?
We came prepared with bank statements and income statements, proving our capability to pay the entire year’s rent. The landlord accepted my parents as guarantors once we had opened a bank account for me, and the necessary funds were available in US Dollars. I ended up having to pay 3 months rent as a security deposit, and the place was mine.
Done!"
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