Income Requirements (Salary+Bonus?)
Started by asidito
over 13 years ago
Posts: 1
Member since: Apr 2012
Discussion about
Hi, In order to stay under the 40x rule, and if I will have a 90k salary with guaranteed 10k signing bonus, is my max rental budget 2.25k(based on 90k salary) or 2.5k(based on 100k salary plus bonus)? Also, is this the max budget for gross rental rates or net effective rates? Thank you, DM
90k. That bonus isnt guaranteed for every year.
is this fresh money coming to prop up the market ?? hahaha
sounds like a floor in studios
40x is not a rule but a guideline. Most landlords will say yes. You can always pay an extra month of deposit to influence the decision.
Here's what happens when you pay an extra month of deposit:
http://streeteasy.com/nyc/talk/discussion/30694-advice-on-situation
u can afford 3k/month
I love these rules. Reminds me of the three months for a diamond ring rule. Maybe you can afford 3k a month, but that is well beyond your means.
I didn't meet the 40X requirement when I rented my first place and it worked out just fine. I think the landlord was more concerned about me having a regular income, which I did and I wasn't too far off from that requirement. I was young at the time and six years later when I moved out my salary had more than doubled and the rent only went up $150.
three months for a diamond ring rule is for diamond blood suckers to fool the retards
the real rule should be $300 tops for a ring
>the real rule should be $300 tops for a ring
Brooks2, you must charm all the ladies.
In case anyone is accessing this information, NYC no longer allows advanced rent or security deposits beyond the 1st month rent and 1 month security deposit.