Renting without credit score / guarantor
Aug 23rd 2017, 3:33 pm
#16
Just Joined
Joined: Sep 2009
Posts: 12
Re: Renting without credit score / guarantor
We've just moved to Manhattan in almost exactly the same situation.
My wife's company helped us with relocation so provided money for a realtor who helped us only see apartments whose landlord would accept us and our situation: lack of credit history and not earning the x40 as I don't have a job yet. The pool of apartments actually available to you right now is probably very small. Relators don't come cheap though (c.$5k). I'm happy to recommend ours if you want.
Now despite being showed apartments that would technically accept us, we still had to apply - the costs vary but are around $150 per person on the lease and non-refundable if your application is unsuccessful. So apply wisely.
We finally found an apartment we loved despite a number of setbacks and applied for it... but in one final kicker the building said they'd need us to use a rental guarantor company (Google Insurent for more info) essentially insure the rent.
You pay around a month's rent to the company, but means you won't have to stump 3 - 6 month's security - you don't get this fee back.
There are a few companies in the city who do no-fee apartments - this means no brokers fee (saving $5k). The building we're in in Manhattan is one of these, I'd be happy to refer oh if you want more information?
I won't lie, finding a rental in New York was tough. Lived in London and it's way more complex, competitive and expensive. Don't lose heart though - keep positive and if a good apartment slips through your fingers, move on and find another. Another tip - don't settle, your lease is for a year so make sure you move somewhere you really want to be.
Cheers
Tom
My wife's company helped us with relocation so provided money for a realtor who helped us only see apartments whose landlord would accept us and our situation: lack of credit history and not earning the x40 as I don't have a job yet. The pool of apartments actually available to you right now is probably very small. Relators don't come cheap though (c.$5k). I'm happy to recommend ours if you want.
Now despite being showed apartments that would technically accept us, we still had to apply - the costs vary but are around $150 per person on the lease and non-refundable if your application is unsuccessful. So apply wisely.
We finally found an apartment we loved despite a number of setbacks and applied for it... but in one final kicker the building said they'd need us to use a rental guarantor company (Google Insurent for more info) essentially insure the rent.
You pay around a month's rent to the company, but means you won't have to stump 3 - 6 month's security - you don't get this fee back.
There are a few companies in the city who do no-fee apartments - this means no brokers fee (saving $5k). The building we're in in Manhattan is one of these, I'd be happy to refer oh if you want more information?
I won't lie, finding a rental in New York was tough. Lived in London and it's way more complex, competitive and expensive. Don't lose heart though - keep positive and if a good apartment slips through your fingers, move on and find another. Another tip - don't settle, your lease is for a year so make sure you move somewhere you really want to be.
Cheers
Tom
