It might seem counter intuitive: Even though rents have fallen in New York City, a greater number of renters are enlisting the help of a guarantor in order to qualify for the apartment they want.
One explanation is that the current rental market represents an opportunity for some renters to trade up in NYC. Using a guarantor—on top of the lower rents and other deals landlords are offering to fill the many vacant apartments—can boost your spending power and get you more space, nicer amenities, or a better location—or all three.
Read Full Article on Brick Underground: https://www.brickunderground.com/rent/using-guarantor-upgrade-trade-up-afford-rental-apartment-nyc
