It’s old news that the Bronx rental market is hot. Rents are dramatically rising and renters from all over the city are taking a closer look at the Bronx as their new home. Because of this increase in demand for apartments in the Bronx, securing an apartment for rent is getting extremely competitive. There are usually several applicants vying for the same apartments and it is a race to who gets applications and deposits in. I am going to help you win out.
Here’s my guide to all you need to know about applying for an apartment in the Bronx
Know your credit score.
Most Bronx landlords are looking for each applicant to have 650 credit score and above. Before you start your apartment search, be well versed about your credit. If you do not know your credit score, there are several sites online where you can get that information for free. If you do not have good credit, some landlords will consider a co-signer or a guarantor. Be upfront about any negative items on your report such as a late payments or past due bills.
Have all your paperwork ready to submit.
Bronx landlords want tenants with a yearly income of 40 times the monthly rent of the apartment. So if the apartment you would like to rent is $2,000/month, make sure that your proof of income paperwork shows that you earn at least $80,000 per year. This can be combined between you, your partner, roommate, or any other adult moving into the apartment with you.
The paperwork you will need to apply for an apartment:
4 most recent pay stubs from your job. If you do not receive pay stubs, a letter from your employer stating your income on your company letterhead should suffice.
A copy of your most recent tax return
A copy of your ID
Proof of rent payments on time where you currently live – this could be a letter from your current landlord or rent payment receipts.
If you see an apartment you love, don’t wait to apply.
I live by the term, “I’ll sleep on it,” but in the Bronx rental world, the next day is often too late. Be ready to apply for an apartment you love on the same day that you viewed it. Usually there are several people viewing this same apartment that day. Don’t wait to gather your paperwork after you have already seen the apartment. When you see that apartment that you want, you should have all the paperwork ready to go.
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Written & Edited by: Rebecca Blacker