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

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

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.

Read Full Article on Brick Underground: https://www.brickunderground.com/rent/using-guarantor-upgrade-trade-up-afford-rental-apartment-nyc

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