Proving you can afford rent w/ bonus

Bonus needs to be in employer letter. Some buildings will go for that, some will not. You might need to take out an insurance policy that would pay your landlord your rent as well.

ali r.
DG Neary Realty

I have presented comp letters and even offer letters as proof of income and they worked.

But yes they included the bonus.

If you have a discretionary bonus you are SOL. It has to be a guaranteed bonus (or one you have already received.)

"Or would my employer also need to include an estimated bonus amount in the letter stating my salary?"

No way in hell would I as a landlord accept an "estimated" bonus statement from an employer.

It's either iron-clad -- or start looking for something you can afford with your salary alone.

I'm not so sure it's so cut and dried. *Lots* of cash in the bank will help your cause. And it clearly depends on the building.

Go for it, and good luck to you!

Who writes insurance policies that cover inadequate bonuses?

@No way in hell would I as a landlord accept an "estimated" bonus statement from an employer.

Well that isn't true. For a rental of course they will take it. Just try a co-op and you'll quickly be out of luck NYCMatt.

insurent.com will write an insurance policy that your rent gets paid... I've never had a client use them but i know Glenwood buildings, for instance, accept them.

ali r.

NYCMatt
1 day ago
ignore this person
report abuse "Or would my employer also need to include an estimated bonus amount in the letter stating my salary?"

No way in hell would I as a landlord accept an "estimated" bonus statement from an employer.

It's either iron-clad -- or start looking for something you can afford with your salary alone.

nycmatt doesn't know dick. this is, as everything else is, landlord specific. if an hr dept is willing to put it on paper then usually ok.

Thanks for the advice everyone - hadn't heard of Insurent before but that is something to keep in mind. For the places I was looking at my base alone would be ~35x rent so more of a marginal case. I'd think even in a "bad" year my total comp would be at least 50x.