Dear Prospect NYC Tenant,

Finding that perfect rental in the 5 boroughs can be tough - it can be a fast paced and stressful game if you don't come prepared.  To keep your life simple as you start the process, make sure that you gather all the necessary paperwork that you will need to provide potential landlords.  New York apartments go FAST - and a delay of even a day could mean losing that ‘perfect place.' Believe me; I've lost a few in my time...

1) Money - When the lease is signed, you will need to provide 3x the monthly rent.  This will cover your security deposit, 1st months rent and all other associated broker fees.

2) Credit Report - Landlords require you to provide them with a credit report showing your current credit score.  With the economy the way it is, many of them are requiring a minimum credit score to even look at their rentals.  If you do not have a credit report handy, order it asap.

3) Proof of Income - Landlords also require you to provide them with proof of your yearly income.  Some Co-Ops and Condos have very strict salary restrictions, meaning that you have to make a certain amount per year to be able to live in the building.  Proof of Income could either be in the form of 3 paycheck stubs, last year's w2 or a letter on your employers' letterhead stating your salary.  Please provide all forms of income (i.e. child support, investment income, etc).

4) Landlord and Tenant Agency Disclosure - NY State law requires realtors to disclose all of our legal responsibilities to you during the search and leasing of your new rental.  In NY State, it is standard that your working relationship be defined as ‘Brokers Agency.'  This means that though your realtor will be doing their absolute best to help you find the perfect new rental to fit your needs, they have a legal responsibility to protect the interests of your prospective Landlords.  However, there is a way, if you are interested, to change your working relationship so that it will be defined as ‘Tenant Agency.'  This would mean that your agents' legal responsibility would be to protect your interests - and gives them the ability to offer you more in-depth information on your potential rentals.  For example, they could then let you know what similar rentals in the area or building were going for, so you could more accurately tell if the asking rent price is too high - or a good deal.  Legally, you get to choose what your working relationship will be - and it must be disclosed on this form before you can view any properties.

By working with a Realtor who knows the area you are trying to rent in and gathering all the necessary paperwork up front, your rental process should be quick and painless!