6 Tips on How to Make Your Rental Experience Exciting
Moving doesn’t have to be a hustle. Actually, it can be very fun. You are moving to a new home and you get a chance to reinvent your life, get excited! Think about the things that are obsolete to you, those need to go. Open space for the new. Imagine what you want in your home and how good it would be to have it. What do you deserve? Is it a pool on a rooftop to hang with your friends after a hard week of work? How happy would your children be if they had a playground in the building?
You probably weren’t thinking moving was going to be fun, but we know it is. And we want to help you make your transition the easiest possible, so we have gathered six tips to help you with your rental process:
1- Know your budget and credit score
In Brooklyn and Queens, landlords have strict income and credit requirements. Typically, tenants need to make around 40 times the monthly rent as their annual income. You may combine your significant other’s income with yours to meet the requirement, or you can have a guarantor co-sign the lease with you. The guarantor, however, will have to show roughly 80 times the monthly rent, and they need to have good credit. Some landlords will also take several months of prepaid rent instead. And if none of those are options to you, you can still get insurent, which is a company that will act as a guarantor for a fee.
Knowing your budget limit and your credit score will help the agent narrow down your search.
2- Have your paperwork ready
Regardless of which apartment you are going to rent, you are going to need documents. Thus, it is best that you have your paperwork ready for when you find your new home. When visiting apartments, bring all documents with you so your application can be submitted and approved quickly.
Here is the standard list of documents you will need:
Copy of your ID
Signed letter from your employer, on company letterhead stating job title, salary and length of employment
Three most recent bank statements
Letter of reference from previous landlord
Copy of renter’s most recent pay stubs
*If you are using a guarantor, you should bring all his/her documents too
You can find a more detailed list of documents