While exceptions may apply, the typical minimum requirements for renting an apartment in New York City are as follows:

Good credit. Bad credit is the most common reason applicants are declined by landlords.  An occasional late payment is not usually a problem.  However, if your credit report shows a pattern of late payments, charge-offs and/or judgments, you will have difficulty renting an apartment.  To counteract bad credit, many landlords are willing to accept guarantors, extra security deposits, or rent up front.  It is in your best interest to inform your rental agent immediately if you have any credit problems or concerns so they are able to show you properties where we know the owner is flexible and we have the ability to structure a rental agreement.

Minimum Income Landlords typically require that you earn at least 40 times the monthly rent.  For example, if an apartment rents for $1000/month, your income must meet or exceed $40,000/year.

Guarantors Guarantors are usually required if your credit is problematic, your income is insufficient (less than 40 times the monthly rent), the length of your current employment is limited (less than one year), or your employer/occupation is deemed “questionable” (i.e., working for a small upstart company, working on a part time or freelance basis, etc.).

Guarantors must meet the same minimum requirements as the applicant, but also make at least 70-80 times the amount of the monthly rent.