Submitted by throw9-9 t3_zvosvw in jerseycity
Hi, any tips for apartment hunting for international students? My cousin is looking for a place for 3 people. I’m not familiar with the process for international students with no income or credit history.
I thought advanced payments like that weren't legal
I'd check with a real estate attorney before handing over that much cash, making invalid contracts or deals that fall outside the law is risky for both the tenant and landlord.
That 6 months advance demand is illegal under NJ law. I have turned down offers of prepayment due to this.
https://www.state.nj.us/dca/divisions/codes/publications/pdf_lti/t_i_r.pdf
The maximum-security deposit to be collected by the landlord cannot be more than one and one-half times one month’s rent (N.J.S.A. 46:8B-21.2). It can be less. Any additional yearly security deposit increase may not exceed 10% of the current security deposit. A landlord may not charge a pet security deposit if it exceeds one and one-half times one month’s rent when combined with the regular security deposit.
In the case of Brownstone Arms v. Asher, 121 N.J. Super. 401 13 (1972), and Reilly v. Weiss, 406 N.J. Super. 71 (2009), the courts determined that advanced rents in excess of one and one-half times the monthly rental payment violate the Security Deposit Law. Therefore, any prepaid funds held to secure future rents are considered to be a part of the security deposit. This includes the last month’s rent. It does not matter how the prepaid funds are labeled. The landlord may only require one and one-half times the tenant’s monthly rent as security and the first month’s rent at the inception of the lease. That means the landlord may not require more than two and one-half times the monthly rent at the inception of the lease, this includes the security deposit and the first month’s rent.
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> They ask for 6 months of advanced rent payment while leasing
Christ isn't that like 15 grand for some of those towers?
May as well make a down payment
Would also recommend reaching out to the school itself if that hasn't already been done. Many have departments dedicated to assisting international students with a variety of services (including on/off campus housing).
The cousin might be able to pay for a guarantor service.
See:
https://www.insurent.com/renters/
https://www.propertynest.com/blog/rent/guarantor-services-rental-apartments/
What’s the budget/start date ?
February,$2000 for 1-2 bedrooms if possible.
you can find 3 bedroom 1+ bathroom apt in greenville/bergen lafayette area for 2000. look close by mlk light rail , garfield ave light rail for easy access to downtown and NYC
This is a tip for anyone looking for an apartment. If you see a building you like, check their website daily. The prices can fluctuate wildly day by day. I was looking to move to a larger unit in my building, and just watching the availability and pricing, when enough 2 bedroom units came available, they dropped the prices on all of them. As 2 of them got snatched the day I got my apartment, the next day the remaining apartment increased by about 1200.
Anthony Armagno at Rand Realty on 553 Jersey ave in downtown Jersey city... Great guy straight forward and honest unlike other realtors
SadMaverick t1_j1qd1k9 wrote
For Newport rentals, they do rent out to people with no income or credit history. They ask for 6 months of advanced rent payment while leasing. I’m pretty sure most other leasing places will have similar process.
The other option is to have someone else with income be the guarantor. Most places here ask that the guarantors have an annual income of 40x the rent.