Income requirement
Started by anir17
almost 16 years ago
Posts: 4
Member since: Sep 2010
Discussion about
I am looking to rent a 1 bedroom apt in a luxury building. My credit is excellent (FICO > 760). However, here is my predicament. Most of my income (which is pretty substantial) is in the form of dividends and interests on CDs in a foreign country. I do have a job in the city-- I am basically an academic (mathematician)--and academics do not have large salaries. My query is twofold a) What would be the appropriate documentation needed to present my foreign income to prospective landlords? b) I can afford to pay the yearly rent in one go (and many times over :). What would be the appropriate way to discuss this with a huge rental organization? I know t is much easier to do so with real landlords-- you just pick the phone and call them. Thanks
You sound like a Colombian drug lord, or a member of the Russian mafia.
Good luck with finding a place.
why? 99.999% of mathematicians i've met in USA are foreigners
Not a big deal, I wouldn't think. Just go see a place, and even if you do not like it, bring up the issue to see what they say.
Offer the LL to pay the entire year up front, plus three months security.
Long time ago ('99- things may be different now), I offered to pay an entire year up front for a 1-year lease, because my credit was pretty shakey and I was from out of town.
The landlord said he wasn't allowed to take the whole lease in one up-front payment. That made no sense to me, (and, I'm really glad I didn't do it), but ultimately, he said "no deal".
Even though you posted a rental Question in Sales, Ill answer you, as most people do not know how to use this site anyway.
If your credit score is that high, and you can show me liquid assets like what you say, I really don't care if your income is low.
I MUCH rather have someone with a low income and high credit score, than someone who makes a lot and cant pay their bills. You also have SIGNIFICANT assets it sounds like. You should not have a problem
-Small time Manhattan LL
"Long time ago ('99- things may be different now), I offered to pay an entire year up front for a 1-year lease, because my credit was pretty shakey and I was from out of town.
The landlord said he wasn't allowed to take the whole lease in one up-front payment. That made no sense to me, (and, I'm really glad I didn't do it), but ultimately, he said "no deal""
Yes that's because it may interfere with mortgage language with his lender.
Let's say this landlord takes a year's worth of rent from you and everyone else in the building, puts it in a briefcase and then goes bankrupt.....you follow?
oh I would love to rent my 1BR to someone and get the full year upfront...
Thank you all for your replies. I meant to post this in the rental section, however, I guess the default option on the browser is sales and I had to refresh my browser before posting.
To be more specific, I am looking for a place in the Carnegie Hill area of Manhattan, preferably close to 5th avenue (central park). We are looking for a spacious one bedroom (Area > 800 ft^2), in a Doorman building.
Show them your tax returns. Unless you conceal said income, in which case I hate you and hope you are arrested today.
"Long time ago ('99- things may be different now), I offered to pay an entire year up front for a 1-year lease, because my credit was pretty shakey and I was from out of town.
The landlord said he wasn't allowed to take the whole lease in one up-front payment. That made no sense to me, (and, I'm really glad I didn't do it), but ultimately, he said "no deal""
The landlords of rent stabilized and other rent-regulated buildings are not permitted to accept rent in advance. It's in the regulatory statute.
"The landlords of rent stabilized and other rent-regulated buildings are not permitted to accept rent in advance. It's in the regulatory statute."
That's probably a good rule. (I wasn't aware of it.) Before I lived in NY, I don't think I even knew what 'rent stabilized' meant.
Broadsky Org. accepts one year up front, plus additional security.
"Broadsky Org. accepts one year up front, plus additional security."
If the case, it's likely they either have no debt or keep it in escrow and draw 1 month at a time.
hey anir, let me know if you want a slightly smaller place in the 70s, luxury, by owner (ie no fee)
> Show them your tax returns. Unless you conceal said income, in which case I hate you and hope you are arrested today.
if he's a foreigner he shouldn't pay USA taxes on that income, don't be such a hater!
Bettina equities also allows for one year up front, plus 3 months security.
Many owners will take you with extra security since you are working,great credit and have significant assets. Try Related, Rockrose and TF Cornerstone. Renting from a Condo owner should also be no problem, it's easier to explain your situation to an individual rather than a big corporation.
You can also try this company that acts as a guarantor for you; http://www.insurent.com/
" You sound like a Colombian drug lord, or a member of the Russian mafia.
Good luck with finding a place."
I could also be Bernie Madoff's evil bastard son conceived in a hunting lodge in Madagascar.