Renter's guide
Renting in New York, answered plainly
Six straight answers to the questions renters ask most, each one dated and sourced to the law, agency or market report behind it — not restated from memory, and updated when the underlying facts change.
How much can my rent go up in 2026 if I'm rent stabilized?
Zero. The NYC Rent Guidelines Board adopted Order #58 on 25 June 2026, setting a 0% increase for both one- and two-year renewals of rent-stabilized leases commencing between 1 October 2026 and 30 September 2027. A pending legal challenge to the order has not paused it — it is in effect. This applies only to renewals of already-stabilized leases, not to market-rate apartments.
Read the guide →Why are there fewer apartments on StreetEasy than there used to be?
Two separate changes stacked. StreetEasy has charged agents a daily fee to post rental listings since 2017, and in April 2025 it moved that fee to tiered pricing; ten weeks later the FARE Act shifted the broker fee off tenants and onto whoever hires the broker. Public listing got more expensive at the same moment brokerages had less incentive to post everything, so more units now lease before — or without — ever reaching a public portal. StreetEasy's own count of NYC rental listings was down 10.7% year over year as of May 2026.
Read the guide →Who pays the broker fee in NYC in 2026?
Whoever hired the broker. Under the FARE Act (NYC Admin. Code §§20-699.22–.24), effective 11 June 2025, a landlord's agent — and any broker who published the listing — is barred from collecting a fee from the tenant. Since most rental listings still come from landlord-hired brokers, most renters now pay no broker fee. You can still owe one if you separately hire your own broker to run a search for you, and that fee must be disclosed to you in writing, itemized, before you sign a lease.
Read the guide →How much do you need to make to rent an apartment in NYC?
There's no legal minimum — it depends on the landlord. A common underwriting convention is annual income of about 40 times the monthly rent, but it's a convention that varies by building and market conditions, not a rule. If your income doesn't clear what a landlord asks for, the usual alternatives are a guarantor or an institutional guarantor service. If you hold a housing voucher, an income requirement may legally be applied only to the portion of the rent you pay yourself.
Read the guide →What documents do I need to rent an apartment in New York City?
Typically photo ID, your two most recent pay stubs, your two most recent bank statements, your most recent tax return or W-2, and an employer letter confirming role and salary; self-employed applicants usually substitute two years of tax returns plus several months of bank statements. On cost: New York bans residential application and processing fees outright. A landlord may recover only the actual cost of a background and credit check, capped at $20 total, and must waive even that if you supply your own report from the last 30 days.
Read the guide →How do guarantors work for NYC apartments?
A guarantor co-signs the lease and is legally on the hook for the rent if you can't pay it, which lets a landlord approve an applicant whose own income doesn't clear their requirement. Landlords commonly ask a guarantor to show a higher income multiple than they'd ask of the tenant — often cited around 80 times the monthly rent — but like the tenant-side convention, it varies and isn't a fixed rule. If you don't have someone who qualifies, institutional guarantor services will guarantee the lease for you for a fee. Where a housing voucher is involved, an income multiple may only be applied to the tenant's own share of the rent, not the full contract rent.
Read the guide →