Renting an apartment in New York City was never easy. Everyone wants to live and build a career in a city that never sleeps, the place “dreams are made of.”
That’s what makes the competition in the city so intense and allows landlords to impose strict requirements. We all know what some of these are by now — a strong credit score (600-680), proof of income 40-50 times the monthly rent, and sometimes a guarantor or co-signer.
Then, there are upfront costs with broker fees, security deposit, and of course, the first month’s rent. Despite the obstacles, rental demand is still strong, most likely due to high homeownership costs…