{"id":17417,"date":"2023-06-30T15:00:00","date_gmt":"2023-06-30T19:00:00","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=17417"},"modified":"2023-07-26T14:31:05","modified_gmt":"2023-07-26T18:31:05","slug":"qualifying-for-rental-apartments-for-retiree-nyc","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/qualifying-for-rental-apartments-for-retiree-nyc\/","title":{"rendered":"Qualifying for rental apartments when you’ve retired in NYC"},"content":{"rendered":"\n

Most landlords in NYC require tenants to make 40 times the annual rent<\/a> of the apartment. This can be difficult for individuals who don\u2019t have consistent income, much less for those who are retired. Yet qualifying for an apartment or finding housing in NYC is not impossible, even if you don\u2019t receive a regular paycheck. If you\u2019re a retiree searching for rental housing, you should first be familiar with income requirements and guarantors, affordable housing, and special senior rights.<\/p>\n\n\n\n

Who counts as a senior?<\/h2>\n\n\n\n

Though you have to be over the age of 65<\/a> to be eligible for a reduced fare MetroCard, you only need to be 62 years<\/strong> of age to qualify for senior housing benefits such as housing lotteries or rent increase exemption programs. Senior citizens also get special housing rights<\/a> in NYC. A building owner cannot evict tenants from rent-stabilized apartments in NYC if the tenant is \u201c62 or older, has been a tenant for 15 years or more, or is a disabled person\u201d unless the owner provides an \u201cequivalent or superior apartment\u201d at the same or lower rent. Seniors can also terminate their lease without penalty if they are moving into a senior citizen housing complex or health care facility. If terminating your lease for these reasons, you simply need to provide 30 days written notice and documentation of admission to the health care facility or senior housing.<\/p>\n\n\n\n

Income requirements for seniors<\/h2>\n\n\n\n

The standard for most landlords is for the tenant to make 40 times the annual rent. If you\u2019ve retired and don\u2019t have income from a job, you may need to demonstrate liquidity or income from other sources such as a pension, social security, or stocks. These are some documents to have on hand for retirees looking to qualify for an apartment:<\/p>\n\n\n\n