From my own experience, it doesn't have to take so long before you build up credit. I was in the same position, being from Europe as well. My bank manager advised me to take, in addition to the credit card, a small loan ($500) to be paid back in 12 months. The advise was to pay the monthly agreed number and pay the remainder after 6 months. I had a credit listing of 740 after 3 months.
Talk with someone at your bank, you may be surprised how quick it can go. Meanwhile, you can opt to rent something furnished for a few months till you are ready.
Do you have anyone who can guarantee for you? While most owners want a New York state guarantor, many are ok with a tri-state guarantor (NY, NJ and CT). You'll need a letter of employment stating your salary and length of employment. Since you have a Bank account, bring a recent statement to show assets. Since there is no credit report, I would recommend Mr. Tully's suggestion below with insurent as you have no guarantor here. Other than the Insurent option, you would need to prepay the year or come to another arrangement with the landlord. Good luck!
There are three options, and not every landlord will accept them.
1. Find a US Guarantor with established good credit, and who can demonstrate income that is at least 80 times the monthly rent of the apartment in question.
2. http://www.Insurent.com - Insurent will act as your guarantor, based on your Italian guarantor's credit and income, but will charge you about 110% of a month's rent.
3. Pay a full year of rent up front.
Best of luck in your search!
NYS Licensed Real Estate Salesperson
The advice below about having someone be your guarantor is not the best advice if your guarantor is in Italy. Landlords and management companies want a guarantor to be not just in the US but in NY. That is so that they have recourse if you were not able to pay, which is the whole point of having a guarantor. Without a credit history, the best thing is to offer to pre-pay as many months as possible and to offer a bigger security deposit.
Halstead Property, LLC
I hope all is well! There are a couple things you can do. Working with a broker will help you identify which buildings are easier to deal with international students/residents. Some residences will allow you to use Insurent, which is where you pay a company to be your personal guarantor. Insurent would look over your financials and see what their charge would be.
Second, you could pay for the entire term up front.
Please let me know if you have anymore questions, feel free to email me at email@example.com
Nick A. Agostinelli
Licensed Real Estate Salesperson
office 212.729.5712 EXT. 144
353 Lexington Avenue, Fifth Floor
New York, NY 10016
Real Estate & Development