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Modern Architecture

International students with insufficient salary? Don't understand the guarantor process? Essential rental details you must know when renting in New York!

New York’s rental apartments have different requirements for tentats. Typically, well-managed mid-to-high-end properties require a good credit record, no criminal record, and an annual income that is 40-45 times the rent. So, how can international students meet these residency requirements?

Currently, in New York City, for most mid-to-high-end properties, over 95% have already adjusted their policies for international students or those not meeting the 45 times rent income requirement. They now mandate the purchase of residency guarantee insurance and do not accept one-time prepayments or additional deposits."


"Why is there a requirement to purchase rental insurance? The main reason is that the United States operates on a credit system, and landlords have a strict screening mechanism for tenants. If a potential tenant has no credit or no income, they can't rent a property as usual. In such cases, tenants are required to purchase insurance through a guarantee company as a form of assurance. This means that if the tenant fails to pay rent, the guarantee company will compensate the landlord for the loss. This is the role of rental insurance.


Why don't buildings accept a one-time annual rent payment upfront? The intent behind the government's reforms is to protect tenants. For local American renters, paying a year's rent all at once can be a significant financial burden. To protect the tenants and for tax settlement reasons, policies have been reformed to disallow such upfront payments.

Apart from New York City, cities in New Jersey do accept other rental arrangements, such as paying a larger deposit or making a one-time annual rent payment upfront."


The most common guarantee insurance companies include: The Guarantors, The Insurant, Rhino.

In addition to seeking a guarantee company, international students can also look for a guarantor. However, the guarantor must be of American nationality and have an annual salary that is 80 times the monthly rent. However, being a guarantor comes with certain risks because if the tenant fails to pay the rent, the building will approach the guarantor.

How much does the guarantee cost? This depends on the individual's credit score and the duration of the guarantee. If one wants to reduce the guarantee fee, guarantee companies also offer deposit discount policies. Applicants can choose the discount amount for the guarantee fee based on the submitted deposit amount.


Everyone must clearly distinguish between the guarantee deposit and the building's rental deposit! The guarantee deposit is paid to the guarantee company and will not be returned in the end! The rental deposit is paid to the building and will be returned when the lease is terminated.

To apply for a guarantee, one needs to submit documents such as a passport, visa, I-20, school offer, etc. After submitting the documents, the guarantee company will confirm the rental details with the building, and then send an email with the quoted price. Complete the payment as instructed to finalize the guarantee.


Another point to note is: even if you have purchased a guarantee, it doesn't mean you can stop paying rent at any time. Because if you fall behind on rent, the building will approach the guarantee company. The guarantee company will also seek payment from the tenant, and the tenant's rental credit record will be documented in the file, which can be detrimental to future rentals.

That's all the details about the rental guarantee. If anyone has any questions or needs to find a rental apartment, feel free to consult Acre anytime!

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