Qualifying Tenants for a Manhattan NY investment condo

We work with many out of town and international condo owners who purchased a New York condo with us and ask us to secure a qualifying tenant for their investment condo. 

As part of our service to our condo owners, we qualify extensively and ensure the perspective tenant have an excellent financial security and good standing US credit history.

To rent an NYC condo unit, the application process can be very different than the rest of the country or world, here are some guidelines for investment condo owners and potential tenants to know what is the rental process:

Here is the check list for the perspective tenant:

  1. Financial verification documents and letter, including:
    • Letter of employment and salary verification (include start date if not yet employed)
    • Bank account numbers (checking and savings), credit card numbers
    • Contact information of previous landlords
    • Contact information of accountant and attorney, if applicable
    • Personal and business references
    • Tax returns most recent last two-three years
    • Pay stubs
    • Expected bonus (verification from employer)
    • Additional sources of income with verification
    • Personal identification with photograph – driver’s license or passport
  2. If relocating from a different state or country, prepare the necessary funds before coming to New York. Landlords will not accept personal or out-of-state checks. They require certified funds. Anyone renting or relocating must:
    • Establish a New York bank account. If this is not possible, we require all is pay upfront.
    • Bring funds to cover the broker’s fees if tenant’s employer company is not paying covering that expense. Majority of the time, Brokerage fees are paid by the tenant in New York City. These fees are due upon signing of the lease unless your employer is paying the real estate commission for which they will be billed directly.
    • Bring funds to cover a Credit Check: $50-$100+, can be credit card, it varies.
    • Bring funds to cover possible move-in/move-out fees. This vary from each condo buildings.

If you are a condo owner at 3 Lincoln Center and need to find the perfect tenant for you. Contact us today at (917)837-8869 and we can discuss in details.

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