The 8-Step Process
Verify rent stabilization status
Check at NYC Rent Guidelines Board or HCR registry. Pre-1974 buildings with 6+ units are typically stabilized. Stabilized units have annual increase caps.
Set rent based on comps
Pull comparable rentals in same ZIP, building tier, and bedroom count. Pricing 5–10% above market adds 30+ days vacancy.
Photography + listing prep
Professional photos (or high-quality phone shots in good light). Renters scan listings 3x faster than buyers — visuals matter most.
List on MLS + StreetEasy + Zillow
Cross-post for max exposure. NYC: StreetEasy is dominant. LI: Zillow + Realtor.com.
Tenant screening (NY-compliant)
Credit (650+ typical), employment + income verification (40x rent), 2 prior-landlord refs, ID. Application fee capped at $20 per applicant.
Apply equally — source-of-income protection
Section 8, CityFHEPS, SSDI, child support must be considered equally. Refusing voucher tenants is illegal in NY State + NYC.
Lease execution
1 or 2 year lease standard. Must include landlord disclosure (LL §235-f), security deposit terms, rent stabilization status if applicable.
Move-in + collect deposits
First month + security (capped at 1 month's rent). Document apartment condition with dated photos for security-deposit return later.
Frequently Asked Questions
No. Source-of-income discrimination is illegal in NY State + NYC. Section 8, CityFHEPS, SSDI, and child support must be considered equally with cash-paying applicants. Violations: up to $250K per case.
Capped at 1 month's rent (NY State Tenant Protection Act 2019). Must be returned within 14 days of move-out with itemized written deduction list.
Well-priced apartments typically lease within 14–21 days. Time to keys-in-hand: 30–45 days from listing through credit check, lease execution, and move-in.
As of 2024 NYC law, the party who hired the broker pays. Landlord-side brokers cannot bill tenants for the rental commission. Tenant-side brokers (renter-hired) can charge tenants.