You’re on the NYC apartment hunt, and you’ve found a place you really like. You’re ready to make it your new home. Great! But learning how to rent an apartment in NYC can be overwhelming for newcomers. How do you know what you need for your application? If you’re prepared ahead of time, you can apply for the apartment of your dreams at a moment’s notice. From paperwork to photo ID, read on to find out how to prepare for apartment hunting in NYC.

Brooklyn Rentals Under $2,500 on StreetEasy Article continues below

Flatbush

850 Flatbush Avenue

$2,170 No Fee

2 |

1

Kensington

418 East 7th Street

$2,395 No Fee

1 |

1

Flatbush

2717 Snyder Avenue

$2,475 No Fee

2 |

1

Flatbush

2533 Church Avenue

$1,899 No Fee

Studio |

1

Wingate

435 Maple Street

$2,350 No Fee

1 |

1

Bay Ridge

321 76th Street

$1,775 No Fee

1 |

1

Fort Hamilton

210 Marine Avenue

$1,999 No Fee

1 |

1

Ditmas Park

520 East 21st Street

$1,840 No Fee

1 |

1

Wingate

572 East New York Avenue

$1,900 No Fee

2 |

1

Fort Hamilton

373 92nd Street

$2,400 No Fee

2 |

1

Flatbush

166 Martense Street

$2,500 No Fee

Studio |

1

Prospect Lefferts Gardens

530 Parkside Avenue

$1,930 No Fee

1 |

1

How to Apply for an Apartment in NYC

Once you find an apartment you’re interested in renting, it’s time to put together an application. Submitting a formal application is the most common way to rent an apartment in NYC. While different landlords and brokers may require different or extra information, you should have some key pieces ready. Here’s a general checklist:

• Employment verification letter, including your job title, job functions, salary, and length of employment — signed and on company letterhead
• Paystubs — the three most recent
• Bank statements — the three most recent
• Federal tax return including your W2 or 1099 form
• Copies of two forms of photo ID
• Application fee ($20)

Landlords also may ask for the following. 

• Recommendation letter from a prior landlord
• Summaries of savings accounts and liquid assets
• Copy of your social security card
• Proof of past rent payments

Manhattan Rentals Under $2,500 on StreetEasy Article continues below

Inwood

70 Post Avenue

$2,395 No Fee

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1

Hudson Heights

728 West 181st Street

$2,350 No Fee

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1

Lower East Side

148 Orchard Street

$2,450 No Fee

Studio |

1

Central Harlem

215 West 145th Street

$2,250 No Fee

2 |

1

Washington Heights

467 West 164th Street

$1,969 No Fee

2 |

1

Central Harlem

103 West 137th Street

$2,175 No Fee

Studio |

1

West Harlem

100 Convent Avenue

$2,166 No Fee

1 |

1

Central Harlem

44 East 132nd Street

$2,400 No Fee

1 |

1

Central Harlem

44 East 132nd Street

$2,000 No Fee

Studio |

1

East Harlem

414 East 120th Street

$2,500 No Fee

1 |

1

South Harlem

149 West 119th

$2,400 No Fee

1 |

1

Washington Heights

715 West 170th Street

$2,190 No Fee

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1

Why Do Renters Need Bank Statements & Other Documents?

It’s a lot to pull together! But landlords need to know that you’ll be able to pay your rent every month. Generally speaking, the more proof you can show of your stable income or assets, the higher chance you’ll have of getting the apartment.

If you don’t have any savings or assets to show, that’s OK — it’s usually more of an extra, not a necessity. But the more assets you can show, the better, says Hiro Matsui of Corcoran. “Nowadays, with COVID, some folks are in between jobs, so it’s helpful to show some savings or liquid asset of some sort,” he says. “That gives the landlord some assurance that you have added security to pay rent.”

When researching how to apply for an apartment in NYC, you’ll probably come across the “40 times the rent” rule. Landlords like to see that renters are making an annual income of 40 times the monthly rent. If you’re a new employee and haven’t worked previously, though, don’t panic. Steven Irizarry of Compass says you can forgo the paystubs as long as you can prove you are working with a letter of employment from your company. You may also need a guarantor to secure the apartment.

What NYC Renters Need To Know About Broker Fees

Renters need to consider broker fees when budgeting for their rental expenses. Broker fees are typically paid to the broker or real estate agent who connects you to the landlord or the building’s management company. Usually, the fee ranges from one month’s rent to 12-15% of the annual rent. But here’s some good news — no-fee apartments are a thing!

FYI, broker fees have been under speculation by the New York State government, but in May 2021, the state issued new guidance that declares broker fees as legal. While they were briefly illegal in early 2020, they are now back and here to stay.

Irizarry advises those who want to bypass a broker fee to look for no-fee listings using StreetEasy filters, as this article explains.

Do I Need To Pay An Application Fee?

You might. But, per the Statewide Housing Security and Tenant Protection Act of 2019, apartment application fees cannot exceed $20.

It would be best if you also had the first month’s rent and security deposit ready and available once you’ve applied for a unit. “Depending on the landlord, if you don’t produce the required funds in time, you could lose the apartment,” Matsui says.

Queens Rentals Under $2,500 on StreetEasy Article continues below

Forest Hills

103-19 68 Road

$1,800 No Fee

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1

North Corona

104-64 39th Avenue

$1,950 No Fee

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Ditmars-Steinway

22-12 36th Street

$2,450 No Fee

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Astoria

26-25 3rd Street

$2,299 No Fee

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1

Briarwood

84-27 Lander Street

$1,895 No Fee

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1

Forest Hills

113-16 76 Road

$2,175 No Fee

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Astoria

25-50 30 Road

$2,350 No Fee

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Kew Gardens

83-15 116th Street

$2,308 No Fee

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1

Kew Gardens

83-15 116th Street

$1,895 No Fee

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1

East Flushing

40-41 190th Street

$2,087 No Fee

1 |

1

Rockaway Park

117-12 Ocean Pm

$1,500 No Fee

Studio |

1

Kew Gardens

118-80 Metropolitan Avenue

$1,995 No Fee

Studio |

1

What To Bring When Apartment Hunting in NYC

When apartment hunting in NYC, says Matsui, the most important thing to remember is to have everything ready to put in an application at a moment’s notice. Good rentals can fly off the market fast, and the last thing you want is to lose an apartment you love because you didn’t have a copy of your tax returns on hand or a letter from your employer. And just as important, make sure your documents are signed in instances where a signature is required.

“Nowadays, everything is online and sent by email, but that doesn’t mean bypassing signatures, whether it’s digital or physical,” Matsui says. “Landlords do not like it when something is just typed up with a name, such as an employment letter. It could be from anyone.”

Secure all of your documents in one place, preferably a secure one where you can decide who has access to it. Don’t hesitate to verify the people to who you are sending your documents before you do so. Matsui also recommends removing information like account numbers from bank statements.

In a nutshell, make sure you’ve got what you need to rent an apartment in NYC ready to go, so you can secure a unit you love STAT. The more prepared you are, the better chance you have of landing your dream home.