Regardless if you are applying for a rental, condo, or co-op apartment, all property owners are going to want to see proof that you can afford the rent and have the means to pay your monthly obligations. As a general rule of thumb owners will base your qualification to rent the apartment on the 40x rule (what ever the monthly rental is, you have to earn an annual salary equal to 40x that number. More strict owners may look for 45x or even 50x).
Therefore, in order to prove your qualification to the landlord, along with the application document(s), you need to also be prepared with the following:
1. Letter of Employment from your current employer stating base salary, any additional compensation earned, including relocation allowances or guaranteed bonuses (discretionary bonuses are usually not counted), and the length of time you’ve been with the company.
2. Copy of three (3) most recent pay stubs
3. Copy of two (2) most recent bank statements (checking, savings, brokerage)
4. Copy of two (2) most recent Federal Income Tax Returns
5. Government issues Photo ID
If you are self employed then substitute #1, the letter of employment, with a letter from your CPA, on their company letterhead, stating your annual income for the last two (2) years, and projected income for the year upcoming.