The New York City Renter’s Guide: Application Process

Once you know all of the most important factors, like your budget and preferred neighborhoods, your apartment hunt can begin. To ensure a quick and smooth transition to the application process once you find a space you love, make sure you have all of your paperwork ready to go. In New York City, the rental process moves extremely quickly. Set yourself up for success by knowing the documents and the process so you’re more likely to land the home of your dreams.   Rental Application Checklist While rental requirements can range from property to property, many of the materials and reference information you’ll need for every application will remain consistent. Here is a look at what to expect so you are prepared when the opportunity arises. Standard Application Documents: Completed and signed application Letter of employment (stating position, salary and length of employment) Last two years’ tax returns (first two pages) Two most recent bank statements (both checking and savings) Two most recent pay stubs Previous landlord reference letter Photo ID (e.g. driver’s license or passport) Typical Application Fees & Move-In Costs Typical application fees Rental: $35-$100 Condo & Co-op: $300-$1,500 Typical move-in costs One month’s rent and one month’s security fee (subject to change depending on landlord and strength of application) Typical timeframe for approval Rentals: 24-72 hours Condo & Co-op: 14-30 days Once your application is received and approved by the landlord or management company, you will then likely need to put down a deposit to secure the apartment. Once that has been done and the paperwork is in order, you’ll be ready to sign the lease for your new home. Find your perfect New York City apartment today.