Create Discussion
Create New DiscussionSearch Discussions
Categories
Sales (21,029)Rentals (2,327)
Developments (551)
Market (1,418)
Financing (419)
Neighborhoods (503)
Schools (96)
Boards (214)
Brokers (311)
Renovation (1,388)
Services (413)
Anything (2,167)
The mgmt requires renters to have income 40x the monthly rent. Is that legal?
40-50x monthly rent is extremely common. Under what sort of law do you think that would be illegal?
Law of large numbers.
If you can't pay 40x the rent, you shouldn't be living there.
It is going to be difficult for the landlord to find a tenant. To have an exact income that is "equal to 40 x the amount of the monthly rent." How many people make exactly $42,000.00? 7?
Singermarc, this is very common in NYC. Legal it is a free market, they can ask for 100 times the rent.
find a cheaper apartment if you aren't making the 40X. M&R are overpriced for the area. you should be able to find a similar unit for closer to $900, now you will need to earn $36K.