How can I be sure my tenant will pay rent? How much money do I need to be earning to qualify for an apartment? We regularly receive these kinds of questions from clients. As the Brooklyn real estate market constantly evolves, we happily advise our clients on best practices. Read questions from property owners and tenants below. Always email us if you have further questions mw@bbre.nyc
Questions from Property Owners
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We take professional photos as we believe beautiful photos truly make all the difference in standing out amongst other listings. We also create floor plans and 3D video walkthroughs. An additional service we provide to our photos is virtual staging, which combines the benefits of staging and furnishing a place, for a fraction of the price, and without the headache of moving furniture.
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All of our applicants go through a vetting process where their entire financial background is collected including bank statements, pay stubs, tax returns and credit reports. From there, we provide and then present to you for decision making.
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Yes, we have multiple NYS leases that we can provide for your future tenant to sign. We provide REBNY and/or Bloomberg, free market and rent stabilized leases as well as notarized guarantor forms when necessary.
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Depending on the apartment we either collect our fee from the tenant or collect the equivalent of one months rent from you.
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Yes, we run comparable searches to recently rented apartments in the area to competively price your apartment.
Questions from Tenants
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30-45 days prior, NYC apartments rent fast so you need to be ready to make a move right away, looking too far in advance isn't always beneficial.
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Using a guarantor is totally acceptable and even necessary in some cases. Your guarantor will need to fill out an application and provide requested financial information, if approval is granted, a notarized guarantor form will have to be provided.
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The rule of thumb is to be earning 40X the monthly rent amount, for example, if the rent is $2000, you should be earning $80,000. Combined incomes work as well.
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Prepare all of your required financial documents beforehand and bring them to your showings. Required documents include: latest bank statements, latest pay stubs, tax return and photo I.D.
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It depends on the apartment. Either we don't charge you anything but rather collect our fee from the owner, OR we collect one months rent or up to 15% of the annual rent from the tenant.