Before you start to look for an apartment, it's important to know what you're looking for and what it takes to get it.

1. Know what you want:

   What is the target move-in date?

   It is best to start your search within a month of your move-in date. Reserve a day or two to see apartments with your agent, and come prepared to rent that day. Vacant apartments are available for immediate occupancy. Although occupied apartments may not be available for a couple of weeks, landlords sign leases before they become vacant. Hence, most rental decisions are made on the spot.

   How much can I spend:

   As a rule, the rent to salary guideline is an annual income of 40 to 50 times the monthly rent. Specifically, a $50,000 a year salary, qualifies a person for a rent between $1000 to $1250 a month. If you don’t meet this guideline, you’ll need extra rent and security and/or a "Guarantor," or co-signer.

   Landlords almost always accept combined incomes of married couples, but not the combined incomes of unmarried roommates. At least one applicant has to meet the rent to salary guideline to avoid the need for a Guarantor.

   Where do I want to live:

   Manhattan is a city of diverse neighborhoods, all with their own unique appeal. Decide what's important to you. Do you want to be close to work, or is proximity to public transportation sufficient? Is it convenience or ambience that's most important? Do you prefer a quiet, residential neighborhood, or a bustling hub of activity and nightlife?

   It's good to be open to alternative ideas. Neighborhoods other than your "first choice" might be more affordable and offer many of the same features. Your Manhattan Apartments agent will explain a number of neighborhood options that can meet your needs that you may not have been aware of. top of page

2. Know what it takes

   Qualifications:

   In America's most densely populated city, the competition for housing can be fierce. The application requirements are unlike those found elsewhere:

   Verifiable Income: The average minimum income requirement for a prospective tenant is 40 to 50 times the monthly rent.

   Good Credit: A credit check as a part of the application process. A pattern of late payments or bankruptcies may require additional payments of advance rent or security, or a "Guarantor".

   If you're new to the country and do not have a Social Security number or a credit history, you will need extra security and rent and/or a U.S. Guarantor.

   Documentation:

   All landlords require the following documents from an applicant:

   Application Form: You will need to provide information on past employment, previous addresses and landlord information, credit references and financial assets, including savings and checking account numbers.

   Letter of Employment: A typed document (on company letterhead) listing your salary, position, and length of employment. The name and phone number of a supervisor for verification purposes is a must.

   Pay Stub: A copy of the most recent pay stub from your current employer.

   Photo Identification: A valid Driver's License, Passport, or Student ID.

   Note: any co-applicant must also provide the above documentation. top of page

   Guarantors:

   If you do not meet the rent to salary guideline, or have a credit problem, a guarantor may be required. The Guarantor, or co-signor, agrees to guarantee the terms and conditions of the lease in case you default, must earn between 80 and 100 times the monthly rent and have a solid credit history. Many landlords require that the guarantor live in New York, New Jersey, or Connecticut, commonly referred to as the tri-state area.

   Your Guarantor will have to provide the following:

   * A copy of the first two pages of their most recent Federal tax return
   
   * If self-employed, a letter from an attorney or accountant verifying their annual income
   
   * A completed application form as a "Guarantor"

   Deposit Money:

   You will need one month's rent and one month's security to complete the application process. Payment must be in the form of a bank certified check, traveler's checks, money order, wire transfer, or cash.

   Landlords do not accept personal checks for the initial rent and security deposit.

   Landlords will not consider an application without rent and security.

   Therefore, we strongly recommend that you make the necessary financial arrangements before going to see apartments. You should also have your employment and guarantor documentation with you when you arrive in our office. top of page

3. Find your apartment

   Unlike most real estate brokers who first meet their clients on the street, we welcome clients to our office for an initial consult. During this time, we familiarize you with the current market, build a profile of your needs, and utilize a wide array of tools to expedite your apartment selection process.

   The extensive MAI database of available apartments is updated continuously through direct contact with the city's best landlords and management firms. Our photo library is an ever-expanding collection of floor plans and photographs of thousands of buildings and apartments. By the time you leave our office, you’ll have a better understanding of what to expect.

   Your agent will show you a carefully prepared selected list of apartments. The combination of the agent's experience and your customized profile guarantees that you’ll find the apartment you want — saving you time, money, and effort. top of page

   Our goal is to find you an apartment in one day!

4. To Schedule a Consultation - call or email:

   Deborah Abraham
   212.847.0604
   deborah@manapts.com