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

Bay Ridge

305 84th Street

$1,790 No Fee

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Brownsville

93 East 96th Street

$2,235 No Fee

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Brownsville

93 East 96th Street

$1,750 No Fee

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1

Brownsville

501 Saratoga Avenue

$1,750 No Fee

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1

Brownsville

501 Saratoga Avenue

$2,000 No Fee

2 |

1

Stuyvesant Heights

656 Hancock Street

$2,350 No Fee

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Ditmas Park

400 East 21st Street

$1,985 No Fee

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Cypress Hills

45 Crosby Avenue

$2,500 No Fee

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East Flatbush

908 Lenox Road

$2,100 No Fee

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1

Flatbush

3101 Avenue H

$1,751 No Fee

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Gravesend

265 Quentin Road

$1,960 No Fee

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Ditmas Park

400 East 21st Street

$1,795 No Fee

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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

Manhattanville

3333B Broadway

$2,250 No Fee

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South Harlem

162 Lenox Avenue

$2,500 No Fee

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Washington Heights

515 West 168th Street

$2,425 No Fee

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Hell’s Kitchen

341 West 45th Street

$2,450 No Fee

Studio |

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Lincoln Square

247 West 63rd Street

$2,475 No Fee

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Lincoln Square

240 West 64th Street

$1,820 No Fee

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1

Washington Heights

555 Edgecomb Avenue

$2,429 No Fee

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1

Washington Heights

508 West 171st Street

$2,000 No Fee

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Hudson Heights

259 Bennett Avenue

$2,200 No Fee

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Manhattan Valley

475 Central Park West

$2,498 No Fee

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Lenox Hill

542 East 79th Street

$2,471 No Fee

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East Village

324 East 14th Street

$2,395 No Fee

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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

Astoria

31-07 34th Avenue

$2,000 No Fee

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Astoria

26-15 25 Road

$2,250 No Fee

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Oakland Gardens

67-40 223 Place

$2,500 No Fee

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Oakland Gardens

67-40 223 Place

$2,300 No Fee

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Rego Park

64-48 Booth Street

$1,750 No Fee

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Jamaica Hills

164-20 Highland Avenue

$1,875 No Fee

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Rego Park

65-20 Booth Street

$2,108 No Fee

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Cambria Heights

119-08 227th Street

$2,500 No Fee

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St. Albans

114-34 Farmers Boulevard

$1,550 No Fee

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Murray Hill (Queens)

189-14 Crocheron Avenue

$2,350 No Fee

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Pomonok

158-29 76th Avenue

$1,900 No Fee

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Ditmars-Steinway

18-55 21 Drive

$2,400 No Fee

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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.