Rental Basics in Queens>Question Details

Patricia M, Home Owner in Flushing, NY

What is the typical percentage of monthly rent vs. gross income that a typical co-op board will allow in Queens?

Asked by Patricia M, Flushing, NY Thu Apr 19, 2012

Does that % change if I am renting to a couple vs. single person? How about two, unmarried individuals looking to rent my 1BR apartment? Thanks!

Help the community by answering this question:

Answers

4
Since each board is different when it comes to financial requirements, etc., it's in your best interest to directly contact and review your Board's policies....
1 vote Thank Flag Link Thu Apr 19, 2012
While there is no exact answer...the rule of thumb I use for co-op sublets is
ONE WEEKS GROSS INCOME SHOULD EQUAL ONE MONTHS RENT!!!!
0 votes Thank Flag Link Sun Apr 22, 2012
It'll probably be in line with standard mortgage guidelines - 28 to 36% (36% debt to income ratio).
Agree with Anna - more info will help figuring this out!

Irina Karan
Beachfront Realty, Inc.
CDPE - Certified Distressed Property Expert
IrinaKaran@gmail.comirina
0 votes Thank Flag Link Fri Apr 20, 2012
Depends on the coop boards constitution.
0 votes Thank Flag Link Thu Apr 19, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer