Renting in NYC (Midtown)
Current senior that accepted an analyst IB position in NYC. The bank is in midtown, so would appreciate some advice on which buildings are good places to check out for a studio. Price range is ideally ~$2,500 max, but willing to go a bit higher if needed. I know I won't get anything fancy with this budget, but would like something of quality.
Separately, I've been hearing about the 40x rule, which would cap me at $2,500 based on 100k base. How strict is this policy? Would this prevent me from looking at places that are $2,600 for example?
You should stick to the 40x rule, but at that income level and age you likely have no option… you always have the option of adding your parents as guarantor(s)…
are there any requirements for parents as well? They aren't very wealthy
Guarantors need 80x rent typically
Used to be 100x rent when I need my parents back in 2014
Depending on the landlord you can get away with $2600. Worst case you get a 3rd party guarantor
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