Anyone have any good techniques for getting a luxury apartment building to lease you a unit without having to show them proof of income?
How To Lease Apartment Without Proof Of Income?
- Thread starter NetMillion
- Start date
Depends on location, really.
Places down here in FL don't care if you're able to prepay at least 6 months in advance.
Places in Manhattan won't even let you sign a year lease if you paid 100% upfront.
Places down here in FL don't care if you're able to prepay at least 6 months in advance.
Places in Manhattan won't even let you sign a year lease if you paid 100% upfront.
Pay them in cash that always shuts them up. Either 6-12 months paid in advanced when you get there.
what's the reason you give them if you want to prepay... privacy?
I pay my taxes, and you should too.
i don't recommend committing fraud, but thats just me. if you make money, i don't see why you should have a problem. they won't look at a bank statement or a tax return?
Problem is they look at your bottom line, and I'd imagine a lot of people here get pretty creative with their expenses.
Anyway, just print out a few months worth of bank statements. If that doesn't work, maybe you should be looking for a cheaper pad!
You're going to be printing out your bank statements on this one...
They usually just want to see income in your bank account that totals three Times your rent payment each month. (Some may say 4 times, but 3 times is more common.) They'll need to see 3 months of history (Yes, the previous 3 pay cycles) and if you made 3-4 times the rent payment for those three months as income, they really should not have any more problems.
That is how it is in Kansas, Illinois, and California, at least. I assume it's the same all over.
Warning; They will want to trace your income back to the source and need to see a payee for all that cash that can't possibly be you. So no naughty sending yourself income from one account to the other and back again for 3 months... They'll see through that.
Other than that it doesn't matter if you spent it all on Cocaine or a huge mortgage... They aren't supposed to care what you made Net, only Gross.
They usually just want to see income in your bank account that totals three Times your rent payment each month. (Some may say 4 times, but 3 times is more common.) They'll need to see 3 months of history (Yes, the previous 3 pay cycles) and if you made 3-4 times the rent payment for those three months as income, they really should not have any more problems.
That is how it is in Kansas, Illinois, and California, at least. I assume it's the same all over.
Warning; They will want to trace your income back to the source and need to see a payee for all that cash that can't possibly be you. So no naughty sending yourself income from one account to the other and back again for 3 months... They'll see through that.
Other than that it doesn't matter if you spent it all on Cocaine or a huge mortgage... They aren't supposed to care what you made Net, only Gross.
I don't know where some of you are getting your info from?
They just want to confirm the lessee isn't a scum bag and that he'll pay the rent. There is no magic formula. Some places just say they want this to weed out free loaders and some of these places are willing to bend the rules if you come across normal.
It is very common for people to own their own business and not have pay stubs and shit. If you have great credit, some cash in the bank and can prove sources of income than you should be fine.
If your credit sucks and your borrowing money from your parents to get into this place than forget it.
Source; Im a licensed Realtor and landlord
They just want to confirm the lessee isn't a scum bag and that he'll pay the rent. There is no magic formula. Some places just say they want this to weed out free loaders and some of these places are willing to bend the rules if you come across normal.
It is very common for people to own their own business and not have pay stubs and shit. If you have great credit, some cash in the bank and can prove sources of income than you should be fine.
If your credit sucks and your borrowing money from your parents to get into this place than forget it.
Source; Im a licensed Realtor and landlord
thanks for the post, but you and the post above you both suggest I prove income. I'm wondering how to do it without proving income.
So far the best option seems to be 3 month prepay increments, but whats a good reason to do that that I could tell them?
also, what about just showing them a bank statement with the full lease-term amount times a multiple, I may consider doing that... would that work?
I've never once found an apartment complex that would accept a full year's payment at once. Cash, check, charge... doesn't matter. Not once and I've tried five times in the last five years.
Just find a landlord who doesn't care. Trust me, they are out there. I got this apartment without showing any proof of income whatsoever. It's a nice place in a good neighborhood too. Just told him I was self-employed and paid the security deposit + first months rent, and moved in the next day. No questions asked.
I had friend recently looking to rent a place in NYC that had no job. He planned on paying his rent with student loan money. We explained to them the situation and showed them that he had the money in an account and they were totally cool with out. Every landlord will be different based on every situation.
If your not playing games than just be honest with them, tell them your rich or independently wealthy but cant prove your income. Let them know that you understand that they require it and you want to know if there are any other options that would make them feel comfortable renting to you. This is why you would offer to pay 3 - 6 months up front. They only want to see you have income to show that you can pay the rent, realistically anyone that pays the rent in big chunks would most likely not have a problem coming up with the rent money and for that 3 - 6 months they wouldn't have to worry about collecting from you.
I have even seen places here in NY where the longer you paid up front the more of a discount they gave you on the rent. Its all part of negotiation and every situation is different.
The advice I give everyone is pretend its a job interview and make yourself marketable, what makes you the perfect tenant? Are you rarely home, responsible, travel, very quite? The worst thing I experience when renting to someone is when they either lie or start telling me some shitty story that I could give a fuck about like - how their cat got sick and the vet bills screwed up their credit, i don't want to hear stories and neither does anyone else.I want to know your going to shut the fuck up and pay the rent on time every month and not destroy my place or piss off my other tenants!
Be professional and have all of the documents you think you will need ready for them. (References, bank statements, credit report.)
It's easy. I've done it with basically every place I've ever rented, including a luxury condo in downtown Vancouver, a nice condo in a castle-type complex in Budapest, a party house in Malta, etc. Dress nicely, act respectable, show up with a few names & numbers of work references, and most importantly, show up with a wad of cash bills, and mention you'd prefer to pay in cash every month if possible. People love being paid in cash, plus they get to drop by for a few minutes every month to ensure you're not trashing the place. You'll get the place every time. 
Or at least I have.
Obviously, this is assuming you'll be dealing with the owner him/herself, and not going through a large rental agency.
Or at least I have.Obviously, this is assuming you'll be dealing with the owner him/herself, and not going through a large rental agency.
On a somewhat related note, does anyone have any suggestions for perks for the landlord/things to highlight when trying to negotiate rent down? Right now I have:
-Highlight my bangin' credit
-Offer to pay in full before the first of every month, OR
-Offer to pay for X (3-6) months up-front
-Offer to pay in cash
Anything else I should add to help get that rent lower?
-Highlight my bangin' credit
-Offer to pay in full before the first of every month, OR
-Offer to pay for X (3-6) months up-front
-Offer to pay in cash
Anything else I should add to help get that rent lower?
Offer to pay a higher amount per month in exchange for not showing proof of income?
In most metro areas you are competing against a bunch of other totally qualified people. Trying to negotiate rent really just pisses a landlord off. What makes you so different than the other 20 people that want to come see it?
If you really want to negotiate your strongest point would be your up front payment. 3/6/12 months or whatever,,, just make sure that if you ever do this be careful with the lease because its much riskier to you. It would suck having your lease terminated early and than trying to fight to get your money back.
Also..... don't use lines like "bangin' credit"
