Frequently Asked Questions

This certainly varies on a case by case basis, but generally speaking, most New York apartments requires an annual income of 40x rent and most New Jersey ones requires 36x rent. That is, to rent a $4,000 studio in Manhattan, you'll have to provide proof of an annual income of $180,000 pre-tax. This can be done through offer letters, W-2 forms, etc. 

Yes! If you can provide a personal guarantor (parents, close relatives, etc.) that makes 80x (72x in NJ) your rent, they could join you on the lease as a guarantor and vouch for you financially. If that's not possible, most apartment buildings and a good number of landlords also accept third party guarantor services such as TheGuarantors. You pay them a fee around 0.8x the monthly rent per year, and they serve as an insurance for your landlord in case of default. 

New Jersey qualifications are usually much more relaxed than NY. If you're an international student, there's a high chance you could qualify from you I-20 form. If your savings account amounts to 36x monthly rent, you might also qualify. 

That's a great question: it depends on which apartment you're dealing with, but these are the most common types of fees charged:

1. Application fee is usually a non-refundable, small fee under $20 in New York (possibly up to low-3 figures in NJ). This will be required upon submitting the application. 

2. Upon signing the lease, you're usually subject to prepaying the first month of rent and the security deposit equaling to one month of rent. The first month of rent will be used towards paying for your lease, and the security deposit will be returned to you, minus the charges that might incur depending on the condition of your apartment after the lease ends. 

3. Electricity and internet is usually charged to the tenant. Though less common, some landlords might charge for water, gas, or trash as well.

4. Landlords might charge tenant a pet fee. There's no legal limit as to how much it can be, but in practice it's usually a refundable pet deposit in the low-3 figures upfront, then a monthly charge in the 2-digits. 

5. Most landlords require tenants to purchase renter's insurance. This should usually be $10-$20 per month. 

6. If you rent with a larger apartment building, you may be subject to an amenity fee in order to access the gym, lounge, pool, etc. This varies greatly from building to building, going from nothing at all up to $275 (looking at you, Waterline Club). 

When we talk about broker's fee, we need to make a distinction between landlord's agent and tenant's agent. To put it simply: landlord's agents are hired by the landlord, and tenant's agents are hired by the tenant. In Dec 14, 2024, a law was passed, taking effect on June 11, 2025, essentially preventing landlord's agent from passing their broker fees down to the tenant. If you see someone still doing it after June 2025, let me talk some sense into them. 

On the other hand, the tenant's broker may charge a fee from either side (but not both!). If the landlord offers commission on the deal, I will not charge you anything (often the case with larger, newer apartment buildings). If the landlord doesn't, I will charge you a broker's fee equal to a flat one-month's rent, only billed after signing the lease. If you chose not to sign a lease with any apartments I found, or chose to sign with an apartment that I didn't show, no fee will be charged to you under any circumstances. 

There are a couple reasons why you might pick me to represent you in a deal:

1. A broker has expert knowledge on the market of the area. I will be able to establish realistic expectations early on, preventing renters from wasting time on trying to attain the impossible. (Hey, if I could find a 2b2b Chelsea apartment for less than $5,000, I'd rent it myself!)

2. A broker acts as both an assistant and a project manager. I will reach out to listing agents and building managements in your stead, giving you more time to spend with friends and family. By speaking their language and establishing consensus, I can save you a lot of back and forth trying to understand their practices and leasing process. 

3. Listing brokers don't represent the tenant's interest, they represent the landlord's interest. Their job is to make someone take their listing as soon as possible. On the other hand, I will be your ally. I won't pressure you to sign any particular listing, and will instead let you take your time between different options to make an informed decision. It does not matter to me who you're renting it from - so long as you're happy with your new home.