“I'm moving from Toronto to NYC and landlords want 40x the rent in income. I don't have a guarantor. Do landlords consider assets or accept rent prepayments if I don't meet the income guideline?”
Not reaching 40× and not having a personal guarantor do not end your search: some landlords consider savings or a third-party guarantor. The hard part is finding a landlord willing to use that flexibility—not offering extra months of rent.
You have ways to present a stronger application without a personal guarantor, but paying many months upfront is not a dependable workaround.
Ask whether the landlord will review your , Canadian bank statements, credit history, and any NYC job offer instead of applying 40× as an absolute cutoff. Some landlords consider assets and credit history, but acceptance is their decision. [GDC Rentals, How Much Rent Can I Afford in NYC?; StreetEasy, March 2, 2026]
If savings are not enough for that landlord, ask whether it accepts a service before applying. Such services are an option, not something a landlord must accept. [StreetEasy, March 2, 2026; GDC Rentals, How Much Rent Can I Afford in NYC?]
Do not plan on a landlord taking multiple months as an approval condition for an ordinary lease: New York’s cap says no deposit or advance may exceed one month’s rent, and the Attorney General says a landlord cannot demand last month’s rent in addition to a . [NY General Obligations Law § 7-108(1-a)(a); New York Attorney General, Residential Tenants’ Rights Guide]
The 40× figure is a common landlord screening practice, not a promise that every landlord will make an exception. [StreetEasy, March 2, 2026; GDC Rentals]
These steps help you identify flexible landlords before spending money on applications.
Before paying an application charge
Ask about assets before applying
Message the listing’s landlord or property manager: “I’m moving from Toronto, do not meet 40× income, and have savings. Will you review Canadian bank statements, any employer letter, and international credit information, or accept a third-party guarantor?” Asset acceptance is a landlord decision, not a government application. [GDC Rentals; Relocate NYC, August 16, 2026]
After a landlord confirms what it will review
Prepare a financial packet
Send the agreed documents to the landlord or manager. Rental guidance identifies bank statements, an international credit report, and an employer relocation letter as useful for international applicants; NYC guidance permits identification requests for a credit inquiry but warns against rejecting otherwise sufficient alternatives. [Relocate NYC, August 16, 2026; NYC Commission on Human Rights, Immigration Status and National Origin Enforcement Guidance]
Requirements
Before paying for screening
Apply using the route the landlord accepts
Apply directly through the landlord or its manager; there is no government form for a private apartment application. For an ordinary rental, a credit/background-check charge is limited to the actual cost or $20, whichever is less; it must be waived if you provide a qualifying check from the previous 30 days. [NY Real Property Law § 238-a(1)(b)]
Requirements
Before signing or sending money
Pay only the agreed lawful move-in amounts
Budget for the first month’s rent and no more than one month’s for an ordinary rental. Do not add last month’s rent on top of that deposit or treat several prepaid months as the way to get approved; a broker representing the landlord cannot charge you its fee under the FARE Act. [NY General Obligations Law § 7-108(1-a)(a); New York Attorney General, Residential Tenants’ Rights Guide; NYC311, Broker Fees]
Requirements
You are not the first to go through this. Here is how it went for others who asked the same thing.
u/PonchoSpudr/NYCapartmentsJan 9, 2026
u/putonthespotlightr/NYCapartmentsJul 25, 2026
u/Electronic_Source978r/movingtoNYCJun 19, 2026
The legal limits come from New York statutes, the New York Attorney General, and NYC housing-rights guidance; NYC rental-market sources describe the 40× practice and possible alternatives.
StreetEasy NYC rental guidance
The 40× figure describes a commonly used rental-screening practice.
Typically, your gross annual income should equal 40 times your monthly rent — that’s your rent-to-income ratio.
GDC Rentals, NYC rent-budget guidance
Some landlords consider assets and other alternatives when screening applicants.
Some landlords may consider guarantors, assets, credit history, roommates, or third-party guarantor services.
StreetEasy NYC rental guidance
A third-party guarantor is worth exploring only if the landlord accepts one.
If you need a guarantor but can’t think of anyone to use, look into third-party guarantor services, but check with the landlord first to see if they accept such services.
Relocate NYC, lease-application guidance
An international mover can prepare financial documents beyond a US credit file.
For international movers with no U.S. credit history, options include providing additional bank statements, an international credit report, or a letter from an employer confirming the relocation.
Relocate NYC, lease-application guidance
Bank statements are a practical way to show accessible funds to a prospective landlord.
Most landlords require two to three months of bank statements covering both checking and savings accounts.
NY General Obligations Law § 7-108
The current statutory cap covers deposits and advances for ordinary non-rent-stabilized homes and identifies its narrow exceptions.
§ 7-108(1-a)(a)
(a) No deposit or advance shall exceed the amount of one month's rent, unless the deposit or advance is for a seasonal use dwelling unit as provided for in subdivisions four and five of this section, or unless the deposit or advance is for an owner-occupied cooperative apartment as provided for in subdivision six of this section.
NY General Obligations Law § 7-108
A co-op rental does not qualify for the owner-occupied exception merely because the building is a co-op.
§ 7-108(6)(a)
(a) the tenant is the dwelling unit owner, purchaser or shareholder of such a cooperative housing corporation;
NY General Obligations Law § 7-107
Rent-stabilized units also have a one-month deposit-or-advance limit.
§ 7-107(2)
No deposit or advance shall exceed the amount of one month's rent, under any contract for the lease or tenancy of a dwelling unit subject to this section.
New York Attorney General, Residential Tenants’ Rights Guide
A landlord cannot stack a last-month-rent demand on top of the security deposit.
Security deposits
The one-month limit means that a landlord cannot ask for last month’s rent and a security deposit.
NY Real Property Law § 238-a
The statute limits screening charges and lets an applicant avoid them by providing a recent check.
§ 238-a(1)(b)
(b) A landlord, lessor, sub-lessor or grantor may charge a fee or fees to reimburse costs associated with conducting a background check and credit check, provided the cumulative fee or fees for such checks is no more than the actual cost of the background check and credit check or twenty dollars, whichever is less, and the landlord, lessor, sub-lessor or grantor shall waive the fee or fees if the potential tenant provides a copy of a background check or credit check conducted within the past thirty days.
NYC Commission on Human Rights, Immigration Status and National Origin Enforcement Guidance
A prospective landlord cannot disadvantage this mover because of Canadian origin or immigration status.
III.2.a, Housing
Housing providers cannot refuse to rent or sell, and cannot alter the terms and conditions of housing, because of actual or perceived immigration status or national origin.
NYC Commission on Human Rights, Immigration Status and National Origin Enforcement Guidance
Insisting on only particular identity documents despite sufficient alternatives can be evidence of discrimination.
III.2.a, Housing
For example, if a landlord tells an applicant they will only accept a passport or an SSN for purposes of a credit check and refuses alternative forms of identification or documentation sufficient to run a credit check, such actions may be pretext for discrimination.
NYC FARE Act, NYC311 Broker Fees guidance
A landlord’s broker cannot pass its fee to this renter under the FARE Act.
This law prohibits brokers who represent landlords from charging broker fees to tenants.
These are the official rules as published or effective on the cited dates; rules can change, and individual landlords’ screening practices vary.
This is general information about official processes, not legal advice, and SettleKit is not a law firm.
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