 |
 |
|
1.True or false?
I won't find a great apartment unless I use a broker and pay a broker's fee.
2. How do I know how much rent I can afford to pay?
- A. For Manhattan, divide your annual income by 40, and for outside Manhattan divide by 30. The resulting numbers will give you an approximate amount of rent you can afford.
- B. You can afford to pay the equivalent of two weeks salary in monthly rent.
- C. Divide your parents' annual income by the number of kids in your family and multiply by .25.
3. I'm a student and I don't have a job. Will anyone let me rent an apartment?
- A. No way, dude. Are you kidding?!
- B. Yes, but only if you have at least one roommate.
- C. Yes, if you have a qualified guarantor.
4. True or false?
To move in, it will generally just cost me the first month's rent and one month's security.
5. What's a guarantor and how much does s/he have to earn?
- A. A person who guarantees your fine character and earns 40 times your rent.
- B. A person who meets with your landlord and guarantees you throw the best parties.
- C. A person who guarantees the rent will be paid as agreed even if you can't pay it, and earns 50 to 75 times your rent in yearly income.
6. True or False?
By not using a broker I avoid paying the standard broker's commission of 15% of my first year's rent.
7. My landlord will approve my rental application based on my income from work, student aid or student loans and/or my guarantors without a background or credit check, right?
- A. Obviously, I'm a student, so he'll just know that I'm broke and deserve a break.
- B. No, NYC landlords routinely run credit checks and background checks to approve applications.
- C. Yes, because a letter from my career counselor highlighting my future earning potential will be enough to get me in the door.
|
|
 |
| |
 |
 |
|
|
