Anyone with experience finding no “credit” check apartments and/or renting to an escort

[Jarrod_Uncut]

So I’ve been back in the rental hunting business lately, and needless to say it’s been a bit of a charade. The new city I moved to, seems to be commonly wanting proof of income of 3X the rent. Formerly I’d use bank statements, but in the past few months, I no longer stay within the same city of the main bank that I’d use, which is a pretty common bank nationally in most states, but not all. Which happens to be mine.

 

However, even with that...Property managers and even private landlords can be a bit picky about who’s application looks the best. I actually used to feel private landlords were the way to go, but now I’m seeing it’s not so much the case in many situations. They be wanting as much as the corporate properties when it comes to looking up info. I almost don’t feel comfortable letting someone snoop around my information. I rather just pay the money and move on with the deal lol. I’m not applying for a loan on a mortgage ??‍♂️

 

It’s also been hard to find places (In the city, for my budget) that are private enough, to where I’d feel comfortable hosting clients regularly. It’s an issue how so many apartments and “converted homes” almost design neighbors to have regular interactions with one another. Which I want to avoid. Obviously the bigger apartment buildings don’t have that issue as much (which actually may be something I turn my focus to next).

 

The main issue is the application of these places, which I know is standard. But last thing I’d want, is to be running around paying application fees and not getting thru.

[Lazarus]

Good luck. Having an income of 3 times the rent is reasonable. In NYC I believe it is 40 times the rent.

[crazyivan]

Good luck. Having an income of 3 times the rent is reasonable. In NYC I believe it is 40 times the rent.

The common requirement is that the ANNUAL income is 40 times the MONTHLY rent. So it is just slightly higher than then 3x requirement. Although you have to factor in how high rent in NYC is...

[Jarrod_Uncut]

Good luck. Having an income of 3 times the rent is reasonable. In NYC I believe it is 40 times the rent.

 

Sounds like for annual income. The places I was referring to was per monthly times 3. Definitely not making $2,000 New York rent times 40 a month lol. That's $80,000 a month. An escort would have to be Justin Bieber or Floyd Mayweather to make that kinda money every month lol.

[Jarrod_Uncut]

The common requirement is that the ANNUAL income is 40 times the MONTHLY rent. So it is just slightly higher than then 3x requirement. Although you have to factor in how high rent in NYC is...

 

I just don't see how people are affording any of this shit these companies are wanting. Cars and homes are just a racket. I own both my cars, but it's hard to find a place to buy outright like a car....which I was close to doing with my former place, which was only about $66,000 for a 1 bedroom town home at the time.

 

How does one pull off making 3X the rent (in one particular place it'd be $900x3=$2,700 a month plus car and utility and escort expenses (gym, ads etc, clothes, etc, etc, etc, etc lol).

 

I guess if you're making 3X that amount you can offset those costs. But obviously escort income can be do random. That's why I am considering on my next move to pick up a second job for my regular bills, but not an easy feat when first needing a place to live in order to even take on the job lol. Unless just make one big payment to a hotel, but hell in this economy.... there's no guarantees.

[crazyivan]

I just don't see how people are affording any of this shit these companies are wanting. Cars and homes are just a racket. I own both my cars, but it's hard to find a place to buy outright like a car....which I was close to doing with my former place, which was only about $66,000 for a 1 bedroom town home at the time.

 

How does one pull off making 3X the rent (in one particular place it'd be $900x3=$2,700 a month plus car and utility and escort expenses (gym, ads etc, clothes, etc, etc, etc, etc lol).

 

I guess if you're making 3X that amount you can offset those costs. But obviously escort income can be do random. That's why I am considering on my next move to pick up a second job for my regular bills, but not an easy feat when first needing a place to live in order to even take on the job lol. Unless just make one big payment to a hotel, but hell in this economy.... there's no guarantees.

I am in no position to talk about how to make money, but in NYC you definitely do not need a car at all.

 

In general, apartment buildings in NYC requires one of the following:

1) 40x rent (all occupants combined, meaning you can add your roommates' income)

2) 1m liquid assets

3) guarantor that makes 80x rent

4) guarantor with 2m liquid assets

5) surety insurance

6) prepay full year rent

Note that option 6) is no longer allowed by NYC government, so 5) is very popular now.

[Lazarus]

Yes...I meant annual income is 40 times the monthly rent. . I have noticed that rents in Manhattan have dropped considerably since Covid. I am seeing some decent apartments on Streeteasy.com on the UWS for less than 2300 even a few for $1700 which until recently was rare.

[MikeBiDude]

Cars and homes are just a racket

Not a “racket”.

[nate_sf]

From what I've been reading, rents are dropping in historically expensive cities like New York and San Francisco, but have been rising in other places. This from an article I saw the other day:

 

The trend spreads nationally, according to Zumper, which claims a majority of the 10 most expensive cities became less expensive over the month, including New York City, Boston, Los Angeles and Oakland.

 

Meanwhile, rents in less expensive cities across the country are increasing, leading to a compression which the Zumper report claims is fueled partially by the rise in remote work amid the pandemic.

 

“The result of the above two effects is a ‘squeezing’ of the price distribution of rentals across the country as historically expensive cities become cheaper and historically cheaper cities become more expensive,” said the report. “This effect has continued to accelerate this month as COVID-19 persists on and more Americans are opting for cheaper places to live while working from home or away from their offices.”

 

So unfortunately, if local demand for rentals is rising, landlords and property managers will become more selective and demanding of prospective tenants. So it would not be your imagination if that's what you're experiencing, but that's little consolation!

[Jarrod_Uncut]

From what I've been reading, rents are dropping in historically expensive cities like New York and San Francisco, but have been rising in other places. This from an article I saw the other day:

 

The trend spreads nationally, according to Zumper, which claims a majority of the 10 most expensive cities became less expensive over the month, including New York City, Boston, Los Angeles and Oakland.

 

Meanwhile, rents in less expensive cities across the country are increasing, leading to a compression which the Zumper report claims is fueled partially by the rise in remote work amid the pandemic.

 

“The result of the above two effects is a ‘squeezing’ of the price distribution of rentals across the country as historically expensive cities become cheaper and historically cheaper cities become more expensive,” said the report. “This effect has continued to accelerate this month as COVID-19 persists on and more Americans are opting for cheaper places to live while working from home or away from their offices.”

 

So unfortunately, if local demand for rentals is rising, landlords and property managers will become more selective and demanding of prospective tenants. So it would not be your imagination if that's what you're experiencing, but that's little consolation!

 

I can see that. Regardless, I haven't seen any real decrease anywhere. If rents dropping means $10-50 bucks, that's nothing. I've been saying awhile that America needs to burst its rent bubble, as its been going exponentially high in many cities. But between pandemic and police reform, seems this plane is on a crash course to 1990s prices lol

[+ Pensant]

I am in no position to talk about how to make money, but in NYC you definitely do not need a car at all.

 

In general, apartment buildings in NYC requires one of the following:

1) 40x rent (all occupants combined, meaning you can add your roommates' income)

2) 1m liquid assets

3) guarantor that makes 80x rent

4) guarantor with 2m liquid assets

5) surety insurance

6) prepay full year rent

Note that option 6) is no longer allowed by NYC government, so 5) is very popular now.

Just wow! How can any middle-class person making $80,000 even begin to think of living there?

[xyz48B]

Just wow! How can any middle-class person making $80,000 even begin to think of living there?

They really can’t. NPR stated a few months ago that you need to make $76k/yr to afford just a studio apartment in Boston proper. That’s insane.

[Daniel84]

Good luck. Having an income of 3 times the rent is reasonable. In NYC I believe it is 40 times the rent.

 

I am moving to NYC soon and some buildings want 45x rent.

 

I pay taxes and have bank records so I am concerned. I have had some buidings deny me beacuse I am def employed... Landlords think if you have a corporate job and collect a paycheck you will always have a job it’s quite stupid..

 

Have you tried offering first, last and deposit?

[Monarchy79]

Just wow! How can any middle-class person making $80,000 even begin to think of living there?

Easy:

 

1.) Live in an outer Burrough

2.) Live in Jersey City

3.) Get a side hustle

4.) Sublease through someone with a rent-controlled apartment

5.) Live in a Pre-War Building

 

A lot of times, the “statistics”, for apartments is centralized in a few popular areas within that City.

Of course living in lower Manhattan will be expensive, as it comes with the territory, but there are alternatives.

 

The key of the amount of expense you’re willing to sacrifice in any city is based on trade-offs.

 

1.) Do you want to live in the “Nucleus” of that City? Then the price will go up.

2.) Do you need specific amenities in your home? Washer/dryer, doorman, pool, etc? Then the price will go up.

 

All of these factors must be examined, in order to leverage pricing.

[Kevin Slater]

Have you tried offering first, last and deposit?

 

It is now illegal for landlords in New York state to collect last month's rent ahead of time.

 

Kevin Slater

[Luv2play]

I read in the NYTimes the other day that many restaurants will be shuttering their places in the near term in Manhattan including some popular chains which intend to keep their places open in Florida and other states. They simply don’t see a way forward in paying the kind of rents in NY for locations where they will have to reduce seating. Presumably a vaccine would change this equation but when is that likely to be available. Once the eatries (and bars) go, the tourist draw and business trips, conventions, etc are going to be impacted. If the virus impact lasts into 2021, there could be a seismic shift in population movements, which will inevitably affect rents and property values in high priced cities.

[xyz48B]

Easy:

 

1.) Live in an outer Burrough

2.) Live in Jersey City

3.) Get a side hustle

4.) Sublease through someone with a rent-controlled apartment

5.) Live in a Pre-War Building

Not soooo easy:

1.) Commuting costs

2.) Commuting costs

3.) Working multiple jobs to secure minimal standard housing where you work is a sign COL is disproportionate to income

4.) Not all leases allow subleasing nor should you need to resort to that if COL were commensurate with income

2.) Extreme, suboptimal non-solution.

 

You should be able to afford minimal standard housing where you work with a so-called middle class job. If you work somewhere that you can’t afford to live, your job isn’t paying you enough.

[Monarchy79]

Not soooo easy:

1.) Commuting costs

2.) Commuting costs

3.) Working multiple jobs to secure minimal standard housing where you work is a sign COL is disproportionate to income

4.) Not all leases allow subleasing nor should you need to resort to that if COL were commensurate with income

2.) Extreme, suboptimal non-solution.

 

You should be able to afford minimal standard housing where you work with a so-called middle class job. If you work somewhere that you can’t afford to live, your job isn’t paying you enough.

 

But there are always solutions/alternatives to every situation. I wasn’t speaking in absolutes, just noting alternatives that many people use, that have been proven to work.

Edited August 13, 2020 by Monarchy79

[crazyivan]

You should be able to afford minimal standard housing where you work with a so-called middle class job. If you work somewhere that you can’t afford to live, your job isn’t paying you enough.

The popular 40x income requirement is 3.33x income, and after tax you should get 2x rent income. Rent can easily go above 4k in some areas, but most likely you are not going to spend 4k a month, or at least you can easily control living costs under 4k.

[Lazarus]

To put things in perspective....there is a woman on my block on the UWS of Manhattan & she pays $923 for a 7 bedroom apartment. She is 53 & has lived there all her life. She inherited the apt. when her mother died a few years ago. At the time they raised it from $459 to $923. Meanwhile, in my building they (illegally) coveted two bedroom apartments to 6 bedroom apartments & rent the “rooms” to students at Columbia Univ. The price: $7500.00 per month.

[xyz48B]

there is a woman on my block on the UWS of Manhattan & she pays $923 for a 7 bedroom apartment.

Is that some sort of rent freeze?

[Jarrod_Uncut]

It is now illegal for landlords in New York state to collect last month's rent ahead of time.

 

Kevin Slater

 

I personally loathe the first last security deposit rule. Common in Florida probably because of New York. Uncommon in most states. Usually just rent and security deposit.

 

I've been looking hard to find places with decent move in specials. Mainly because the initial move in for me is likely going to run high with moving itself. Seems outside of Texas, people stare like I've got 3 heads when I bring that up.

 

To put things in perspective....there is a woman on my block on the UWS of Manhattan & she pays $923 for a 7 bedroom apartment. She is 53 & has lived there all her life. She inherited the apt. when her mother died a few years ago. At the time they raised it from $459 to $923. Meanwhile, in my building they (illegally) coveted two bedroom apartments to 6 bedroom apartments & rent the “rooms” to students at Columbia Univ. The price: $7500.00 per month.

 

What apartment is that lol. 7 bedrooms? Or 7 closets? Lol. Or 7 beds like a hostel? If she inherited it, how does she have to pay rent anyway?

Edited August 14, 2020 by Jarrod_Uncut

[thickornotatall]

I personally loathe the first last security deposit rule. Common in Florida probably because of New York. Uncommon in most states. Usually just rent and security deposit.

 

I've been looking hard to find places with decent move in specials. Mainly because the initial move in for me is likely going to run high with moving itself. Seems outside of Texas, people stare like I've got 3 heads when I bring that up.

 

 

 

What apartment is that lol. 7 bedrooms? Or 7 closets? Lol. Or 7 beds like a hostel? If she inherited it, how does she have to pay rent anyway?

Probably left over Rent Control...We lived in a Classic 6 on W 82nd and CPW behind The Beresford with an indirect view of Central Park....a nice view...non door man..live in super...rent was $200 month...Last year the apartment sold for over $ 1 million....we moved to 2 Horatio..also rent control....sold the lease to the landlord....now an expensive co-op...

[+ Pensant]

To put things in perspective....there is a woman on my block on the UWS of Manhattan & she pays $923 for a 7 bedroom apartment. She is 53 & has lived there all her life. She inherited the apt. when her mother died a few years ago. At the time they raised it from $459 to $923. Meanwhile, in my building they (illegally) coveted two bedroom apartments to 6 bedroom apartments & rent the “rooms” to students at Columbia Univ. The price: $7500.00 per month.

I assume with a rent-controlled bargain like that, the landowner isn’t doing any repairs and upgrading? I doubt the landlord can even pay property taxes on it.

[Jarrod_Uncut]

I assume with a rent-controlled bargain like that, the landowner isn’t doing any repairs and upgrading? I doubt the landlord can even pay property taxes on it.

 

The city probably pays for it.

 

In other news, Manhattan apparently has 13,000 empty apartments now, as the mass exodus from NYC seems to be the case. Sure someone can Google it.

 

 

But to answer my own question: one thing i did find is air bnb apartments going for monthly, and furnished of course. So that could be something I could explore. But it doesn't quite suit my quest to actually get into something semi-permanent...and air bnb rentals are a bit of gamble and hustle because all that money is due upfront.