Ability will never catch up with the demand for it.Malcom Forbes
A bank is a place that will lend you money if you can prove you don't need it.Bob Hope
Character is like a tree and reputation is like it's shadow.The shadow is what we think of it; the tree is the real thingAbraham Lincoln
Landlords and management companies will be verifying you have annual income of 40-50 times the rent. If you are applying for a $2,000 apartment you will need to to show annual income of $80,000-$100,000. If you are beneath the annual income requirement or a student you maybe able to use a guarantor as a cosigner.
Landlords and management companies often consider different levels of scores as acceptable. Your credit score should be at least in the 650-675 area. Some but not all landlords and management companies will allow a guarantor to cosign the lease with you if your credit history falls below 650.
Length of employment can show stability and dependability. Assets like savings, investment accounts or real estate ownership can sometimes be substituted or allowed for lack of the annual income requirement.
If you are using a guarantor to support your application and cosign your lease, landlord's and management companies may differ with their requirements. Your guarantor may need to be a family member or live in the tri state area.
The guarantor will be held to a higher annual income expectation of 80-100 times the annual rent. If you are applying for a $2,000 apartment, your guarantor will need to show annual income of $160,000-$200,000.
We have some creative strategies we can discuss with you.