| FREQUENTLY
ASKING QUESTIONS |
What income do I need to qualify?
Tenants are required to have an annual income equal to 45 times the
monthly rent. If the rent is $2,000 a month, an applicant must document
no less then $90,000 (45 x $2,000). If the apartment is to be shared,
the sum of all applicants’ income will be considered.
Can I use a guarantor?
Yes, guarantors must document annual income equal to 75 times the monthly
rent. Guarantors must be from the tri-state area.
How much is the security deposit?
One month’s rent is the standard deposit. Additional security
may be required under certain circumstances.
Will I earn interest?
Security deposits will earn interest subject to bank regulations. If
you fulfill all the terms of your lease, the interest will be refunded
minus a 1% administrative fee the owner is entitled to.
How long does it take to process an application?
An application can be approved and processed within a few hours providing
the applicant has the required documentation.
What documentation is required?
- A completed application
- Depending upon building location, a $75 or $100 check for each applicant
and guarantor payable to us.
- A copy of a recent bank statement
- A copy of photo ID
- An employment verification letter, or three consecutive pay stubs
- A landlord reference letter
In some cases, Income Tax returns may be requested.
What checks do I need at the lease signing?
Upon lease signing, you will need certified or bank checks for the first
month’s rent and the required security deposit.
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