Finding an apartment in Manhattan is a completely unique experience comparative to anywhere in the world. The process of renting an apartment in New York City can be a daunting, time consuming and frustrating task. However, we aim to make this process as smooth as possible. You should become familiar with the rules of renting including the paperwork involved when applying for an apartment, which can be quite different for a UN employee versus that of a United States resident.
What you as a UN employee should know:
The basic formula landlords require to qualify you for an apartment regarding income level is at minimum 40x's [40 times] the first months rent of your Gross Income, not Net Income (i.e. if the monthly rent of an apartment is $2000 a month, you are expected to earn a minimum salary of $80,000 per year, Gross). It is important to know that for UN employees, your income is stated in Net (tax free), therefore it is important that you inform the landlord of such; your Gross Income is about 30% higher than the number stated on your documentation. If you qualify for the UN Rental Subsidy, your monthly allowance will be calculated as part of your annual income. Moreover, in most cases under your UN Rental Subsidy grant, the UN will contribute a certain percentage of payment towards the Brokers Fee.
The majority of international UN staff being relocated to New York do not posses a Social Security Number (ss#) or *Credit History at the time of entry to the United States. As a result, most (not all) landlords will require either additional rent upfront and/or additional Security Deposits (in a standard rental transaction, one month Security Deposit is typically required). Should you have a Guarantor/Co-Signer who works and lives within the United States and his/her income level qualifies (*see below for the Guarantor qualifications), you will not have to pay additional rent or additonal security deposits.
Compiled below is a list of the necessary documentation required when applying for an apartment:
Please note, the above required documentation also applies to Guarantor's (co-signer) should you need one. However, income requirements for the guarantor is approximately 75-100 times the monthly rent, versus 40 times for a person qualifying on their own. *
It is very important to know the following: Landlords only take Bank Certified Checks for Rent and Security which are due at the time of the lease signing. The funds can be in the form of a bank check, certified check, traveler's check or money order. Absolutely no personal checks accepted.
We do hope the above list has given you a general idea as to what paperwork is involved. However, please do remember, we are here to help you so feel free to call or Email us with any additional questions or concerns you might have.
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