The application must be submitted along with the processing fee. There are different processing fees depending on what type of information the landlord requires. Your income should be 40-50 times the monthly rent. References are required from both current and previous landlords. If you're self-employed, a CPA letter on CPA letterhead is required. And, sometimes, the most recent tax returns may be required as well. You should also have the availability to secure certified checks for rent, security, and the broker's fee.
If an applicant does not meet the above requirements for income, usually a New York State guarantor is required. However, some landlords take guarantors from all over the country. The guarantor's income should be 80-100 times the monthly rent. The guarantor must also fill out an application and submit the same processing fees as stated above. The guarantor must also submit a letter of employment on company letterhead stating position, salary, length of employment, and Social Security number. If self-employed, the guarantor must submit a CPA letter on CPA letterhead. Sometimes, the most recent tax returns may be required as well.