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What are the salary/yearly income requirements for apartment applicants?

Most landlords require that the applicant’s annual earnings are 40 to 45 times the monthly rent. Guarantors are accepted if they earn at least 80 times the monthly rent. In situations where roommates are involved, incomes can be combined to meet the requirement.

What is a Guarantor?

A guarantor is someone who is willing to co-sign the lease. A guarantor is used in situations where the applicant does not meet the income or credit requirement. A guarantor guarantees the lease and is responsible for the lease payments for the guaranteed lease term in the event of a default. Guarantors are required to complete the same application forms and provide the same required documents as the applicant.

Documents to bring to schedule showing:

Generally, apartments listed for rentals in New York City have a quick turn around. Therefore, it is highly recommended that you pinpoint your moving date to a specific date and have copies of the below listed documents with you at your schedule viewing. This can save you time and expense and give you a better opportunity to secure the apartment ahead of other interested applicants.

Letter of employment

The letter must be on official company letterhead that states the applicant’s position, length of employment, or start date, and annual income. The letter should be signed by an authorized person to verify to information provided.

Photo identification (Government Issued ID)

A copy of a photo ID is required at the time of application.

Tax Returns

The applicant’s most recent tax return

W-2 form


Pay stubs

A copy of three (most recent) consecutive pay stubs

Bank Statements

Three recent statements from your checking account, savings account. Make sure you have the bank account numbers because they are often required on the application forms.

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