How To Get An Apartment In NYC Without A Job

Can I get an apartment in NYC without a job
Apartments in Tribeca, NYC

The New York property rental market is pretty cut-throat. With the city having famously high rent and living expenses, finding an affordable apartment can be a huge challenge. So, what happens if you lose your job? Or if you find yourself in a situation where you must find an apartment in NYC without having a job? Is it impossible for the unemployed to secure an apartment in NYC?

The good news is – while it might be more difficult – you can get an apartment in NYC without a job. To help those without a job looking for an apartment in NYC, Roomi has laid out some possible avenues.

Here’s what you can expect and how you can strengthen your chances!

Be patient with your search when looking for an apartment in NYC

This might sound impossible but you can find yourself an apartment in NYC, without a job. In reality, patience and preparation are key when looking for an apartment in New York City. Trying to secure a new apartment without a job is likely to take much longer than if you could prove your financial security on a long-term basis, so make sure you have somewhere reliable to base yourself during the search.

One of the first things you need to do is find yourself a stable base while you house hunt. Especially if you’re looking for an apartment in New York without a job in your hands. The safest option is to stay with family or friends. Your current landlord might be able to help. Landlords can offer a month-to-month lease if your current lease is due to run out. 

Know what landlords prefer, especially when apartment hunting without a job!

A career and a solid history of payslips are some of the primary things landlords expect when considering your application. But there are other important factors that can determine if you’d be a reliable tenant. Not working at the moment? Take some time to ramp up your eligibility in the following areas.

You will need lots of savings if you’re apartment hunting without a job.

It’s important that you show you can financially support yourself, even if your current stream of income has been paused. This will set a positive foundation. All you need to show is that you’re capable of holding down employment and are sensible with your money. If you can prove that you have enough funds to cover six months of rent, you may just get accepted. Here are some of our tried and tested ways of saving money, when living in an apartment in NYC.

Proof of future employment is also necessary if you’re without a job and searching for an apartment in NYC.

You’re also in luck if you’re due to start a new job in the next month or two. You can increase your acceptance chances for the NYC apartment you want through a signed contract or letter of employment!

A good credit score is a must in most apartments in NYC.

When being considered for a property, a great credit score puts you in a better position. It proves that you pay bills on time and can manage your finances well. Keep your credit score high by always paying rent on time, too.

A reliable guarantor should help you if you’re without a job currently.

A guarantor is a friend or relative that can act as the financial guarantee when it comes to paying rent. Your guarantor should meet the following requirement if you are currently without a job and looking for an apartment in NYC:

They should live in / close to NYC

For New York City apartments, landlords usually only accept guarantors that live in the city or the surrounding Tri-state area. This is so they can sign an original copy of the lease.

Or be an institutional guarantor

In cases this isn’t possible, you must use an institutional guarantor. Institutional guarantors are financial institutions willing to accept the financial liability of the rental contract in exchange for a fee. These institutions require lower incomes and credit scores to act as your guarantor.

Their wage should be much higher than your rent.

Your guarantor should earn 80 to 100 times more than the monthly apartment for which you’re applying. This is a requirement that may differ in most apartments in NYC. So be sure to question your landlord on the same.

Your guarantor’s required documents are more or less the same as you.

Two pay stubs, two bank statements, tax returns, and a letter of employment are the basic requirements for anyone looking for an apartment in NYC. A certified public accountant may provide a statement regarding their income if they are self-employed or own a business.

And what are they responsible for?

Once guarantors sign-on, they become responsible for any missed rent. Additionally, the landlord doesn’t always have to tell them immediately if they stop receiving monthly checks.

Here's everything you need to know about lease signing in New York.

Consider looking into a sublet if you’re currently without a job.

New York’s Multiple Dwelling Law governs the terms people have to follow in order to sublet their property. Most tenants do have the right to sublet their apartment but only with the landlord’s permission. The landlord has to have a good reason to refuse their request.

Subletting might be a feasible avenue for you when you’re without a job, trying to stabilize your income. Subletting generally renews every month and means you don’t have to commit to a 12-month lease. You’ll have the same rights as if you were renting. Just ensure that your sublet is a formal agreement between yourself, the tenant (or leaseholder), and the landlord.
Apps like Roomi make it easy to find flexible rental agreements. You can find safe, legal sublets and leases with roommates that are vetted by us! That means finding an affordable place you love in NYC could happen faster than you thought! Even if you’re looking for an apartment in NYC without a job! Download the app here and hop on the easiest ride home, ever!