Does anyone have any experience with renting with a guarantor in New York?
I found a place in Tribeca I really like, but my base salary, as indicated in my offer letter is less than 40 times the rent- WIth expected bonus I will exceed the requirement by a good bit, but I don't have that in writing ( Nor is it guaranteed I suppose)
My parents are willing to be my guarantor and make over 100 times the rent, but they are in PA, and my understanding is that many large apt buildings limit guarantors to the tri-state area.
I have excellent credit as well as a reference from my last land lord.
Thanks in advance for your advice
I had no problem renting with a guarantor from MA (made over 40x, but they wanted a guarantor because I hadn't established myself at my job for any length of time). I've also heard that there is some kind of guarantor insurance program that will act as your guarantor in exchange for a fee of ~1 month rent.
If you can't get your parents to guarantee because of restrictions, look if the building accepts guarantor insurance. This company provides it: http://www.insurent.com/
You might also want to reevaluate. Paying >30% of your annual pre-tax income in rent is a really steep price for a roof above your head IMO.
Maybe you should rent an apartment you can afford?
^easier said than done in NYC. especially if you're living alone to start.
ask your parents to be your guarantor
Have you tried offering x months rent upfront? That often helps.
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