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Relocating From The UK

Started by Flynn
over 17 years ago
Posts: 2
Member since: Sep 2008
Discussion about
Hi there Ive been browsing these forums for a while and I was wondering if I could call on you decent people for any thoughts, recommendations or advice you would have regarding New Development rentals in the Brooklyn area Ive had a nose at the Olive Park condos and they do look good (at least on screen!) and was trying to search for similar type developments. Looking forward to experiencing NYC and the boroughs ! Many thanks for your help JF
Response by bjw2103
over 17 years ago
Posts: 6236
Member since: Jul 2007

Flynn, aptsandlofts.com specializes in this kind of thing. Most of their rental listings are new development in Brooklyn, especially Williamburg. Optimal locations are around the Bedford and Lorimer L stops. They tend to be a bit pricy, but I'd bet you can negotiate a little, though you may have a little more trouble than usual considering you're moving from abroad and have no rental history in NYC. Good luck!

http://www.aptsandlofts.com/index.cfm?page=Rentals

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Response by Flynn
over 17 years ago
Posts: 2
Member since: Sep 2008

Many thanks for the advice - Hopefully my Company will back me up with a few things

Flynn

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Response by ldb
over 17 years ago
Posts: 3
Member since: Sep 2008

Brooklyn is nice but Manhattan is even nicer. Enjoy the change and give a thought to the core of the apple....Manhattan.

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Response by loftsbrooklyn
over 17 years ago
Posts: 8
Member since: Aug 2007

read this , i grabbed it from the corcoran site

Tips for International
Helpful Hints for International Transferees who are renting
Financial Eligibility:
Most landlords require that tenants earn between 45-50 times the monthly rent on an annual basis. This amount must be guaranteed income, bonuses are not taken into consideration unless they are guaranteed. Many people who are relocating to New York are surprised that even though their credentials seem strong they still do not meet the strict requirements for most landlords.

If you are not a U.S. citizen, or you pay taxes outside of the U.S., or if you do not have any credit history in the U.S., you may be required to pay additional security at the time of lease signing. This can be as much as six to twelve months rent in advance.

A U.S. based guarantor who earns in excess of 75-100 times the monthly rent can be requested in order to limit the amount of additional security required.

Below you will find a list that can help prepare you for the necessary paperwork that most landlords require. It is a very good idea to have everything with you when you start your search as time is of the essence.

Typical Required Documentation:
Statement of income, bonus structure, title, length of time with company or starting date, on company letterhead. For new employees, a copy of your employment contract is helpful.
Letter from landlord in departure city indicating prompt payment of rent.
Letter from your banker stating you average monthly balance.
CPA letter, if self employed, stating annual income.
Condominium Buildings:
The approval process can take up 10-30 days based on a credit check and individual owners requirements. Except application fees and move-in fees. Security deposits may exceed one month's rent.

Cooperatives:
The approval process can take 30-45 days. Prospective tenants must submit extensive personal and financial information, and interview with the Co-op board. Expect large application fees and move-in fees ($300-$500). Security deposit may exceed one month's rent.

International Settling – In Services

In – office map orientation and overview of Manhattan and Brooklyn
Visit to Social Security office to begin process of securing Social Security number
Optional visit to Department of Motor Vehicles
Visit to local bank to open account
HELP ! How to get it when you need it—fire, police, hospital
Review of transportation options….subways, bus, taxis
Schools…private and public choices. Immunization requirements
Daily needs : drug store, grocery store, cleaners, laundry
Miscellaneous Information: how to use a pay phone, tipping practices, venues for the arts, parks, weather, restaurants, delivery service, libraries,
US holidays, cable and utilities, car rentals, insurance
This is the basic description of our one day settling in services. The fee for these services is $1000. If a car and driver are requested, that fee is passed on to our client.

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Response by front_porch
over 17 years ago
Posts: 5320
Member since: Mar 2008

The biggest trouble with internationals is that it's nearly impossible to check your credit -- the reports we get from the UK on UK residents basically show whether you pay your cell phone bill and that's it, which is not that helpful to us -- and then if you fly the country in the middle of a lease term, you're impossible to pursue.

Therefore many Manhattan landlords suggest that you set up a letter of credit on a U.S. bank (expensive) or get your company to guarantee your rent.

I don't work Brooklyn, so I don't know what the standards are there, but if you are interested in a particular building, call them and ask what they'll want.

Also, open up a bank account in the U.S. as soon as possible so you can start a credit record here.

ali r.
{downtown broker}

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Response by loftsbrooklyn
over 17 years ago
Posts: 8
Member since: Aug 2007

i've gotten landlords to take as little as 3 months in advance every 3 months for one person.
but most ask for the year up front in BK

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Response by HUGENOT
over 17 years ago
Posts: 5
Member since: Oct 2008

i dont think its that bad really. there are certain private landlords that will rent you a flat just by having a conversation with you. if they like you then the flat is yours. there are many students that live and rent in nyc who definitely dont have the income requirements, but yet they are able to find housing. there are heaps of undocumented workers in nyc too, who are renting. you just got to go through the right chanels. i doubt they are the type to put down 6 months rent in advance.

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