The 5 Documents You Need to Rent ANY Apartment in NYC

Renting an apartment in New York City is a contact sport! With high demand and fast-moving listings (even in the cold season), being prepared is more than half the battle. Landlords and management companies have strict requirements, and missing just one document could cost you your dream apartment.

Here are the five essential documents you must have when applying for an apartment in NYC:

1. Employment Verification Letter

Landlords want to make sure you have a way to pay for the apartment. The first way they do this is with an employment verification letter. This letter from your employer states your position, salary, and length of employment and should be signed on company letterhead. An employment verification letter should be dated within 15-30 days from application. An offer letter will typically suffice if you haven't started working yet. Before you search, ask for an updated offer letter from your prospective employer. 

Don't have a 9-5 job? Don't worry! You can provide a CPA Letter if you're an entrepreneur or gig worker. A CPA letter comes from a certified public accountant who verifies the source, nature, and amount of your income. This document must also be signed on CPA letterhead. CPAs may charge a fee to review your finances and draft the letter. To see examples of employment verification and CPA letters, click HERE.

RightWay Realtor® Tip:  Beware, some landlords may require you to have a guarantor if you only have an offer letter.

2. Recent Pay Stubs

Landlords require renters to make at least 40 times the monthly rent in annual income. Pay stubs from the last 2-3 pay cycles show consistent income and support your financial reliability. If you're unsure where to get your paystubs, contact your employer. If you don't receive traditional pay stubs, earnings statements, or a CPA letter will satisfy this requirement. 

RightWay Realtor® Tip:  Submit your documents in PDF format. Landlords don't want to decipher unclear photos or illegible paperwork!

3. Bank Statements

New York is an expensive city, and when it comes to renting an apartment, landlords want to see that you have "the goods". Landlords want to know that you have enough money in the bank to do the deal. You'll need to provide (2 - 3) statements that reflect three to five months of rent. If you have substantial savings, it can be a bonus in competitive situations.

The funds don't all need to be in a checking or savings account. If you have funds in a brokerage account, use those to show as much liquidity as possible. Important: Landlords will NOT consider retirement funds (401K / IRA) when qualifying your financial statements. 

RightWay Realtor® Tip:  Some landlords will qualify you based on assets instead of income and may require 3 - 5 years of rent in non-retirement accounts. 

4. Tax Returns

All landlords ask for your most recent tax return (typically the last two years), especially if you’re self-employed. You'll normally be required to provide the first two pages of your 1040 tax form. This document reflects and verifies your adjusted gross income. If you self-prepared your taxes, you may also be asked to provide your W2's. 

RightWay Realtor® Tip:  If you haven't filed taxes yet, you may be asked to submit proof of extension.

5. Government-issued ID

Landlords need to know that you are who you say you are. A valid driver’s license, passport, or state ID confirms your identity and is necessary for background and credit checks.

Bonus Documents That Can Strengthen Your Application

• Landlord Reference Letter – A letter from a previous landlord confirming you were a responsible tenant who paid rent on time can set you apart. Many landlords ask for this, but it is often not required. 

• Guarantor Documents – You can use personal guarantors if you don’t meet the income or credit requirements. A personal guarantor will have to provide the same documentation as an applicant. If you're using a third-party guarantor service, have your qualification certificate available.

• Voucher Documents – If you’re using a rental assistance voucher like CityFHEPS, have your shopping letter handy and let your case manager know you're actively looking for an apartment.

Wrapping Up

You could probably buy a house in New Jersey for the paperwork required to rent an apartment in NYC. But for those of us crazy enough to take a bite out of the Big Apple, these are the standard requirements—though some variation exists depending on the landlord. 

If you have questions about paperwork or renting an apartment in NYC, call (917) 419-5134 today, and let's find you the perfect place the Right Way!