More NYC renters turn to guarantors to qualify for an apartment—or trade up to a larger one


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.

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