Where are the application instructions?

Click here for the application instructions page.

I'd like to apply for an apartment. Will I qualify?

Tenants should be currently employed and financially sound to qualify on their own. Tenants and roommates should make a combined annual income equal to or above 40x the monthly rent of the apartment they are interested in applying for. (e.g. If an apartment is $2,000/month, Tenants must earn $80,000 annually or higher to qualify.) A qualified Tenant must also have a strong United States credit history and a United States social security number. We accept a maximum of 2 Tenants as lease holders and may combine incomes between Tenants and roommates to reach the 40x the monthly rent requirement.

 

Seems like I (and/or my roommate) don't qualify on my/our own. Can I use a co-signer/guarantor?

Yes!

 

What is a Guarantor?


A Guarantor is someone who is currently living and working in the United States and agrees to be equally responsible for all of the rules, regulations, and guidelines of the lease for the entire term. A Guarantor does NOT guarantee only an individual Tenant on the lease but the terms of lease itself. If necessary, we require only 1 Guarantor, even if there are several Tenants and roommates. We may accept an alternate Guarantor or an additional one if the initial Guarantor does not qualify individually. In the event another Guarantor is needed, we accept a maximum of 2 Guarantors living and working in the United States. We do not accept International Guarantors living and working outside of the United States. 


Who can qualify as a Guarantor?


Relatives, employers, or associates who are financially sound and should make an annual income equal to or above 80x the monthly rent of the apartment you are interested in applying for. (E.g. If an apartment is $2,000/month, a Guarantor must earn $160,000 annually or higher to qualify.) A Guarantor must also have a strong US credit history and a US social security number. We accept a maximum of 2 Guarantors and may combine their incomes in order to reach the 80x the monthly rent requirement. We do not accept corporations, institutions, or businesses to serve as Guarantors.


What if my Guarantor(s) do not meet the requirements?


If your Guarantor does not make the income requirements, but has a strong credit history and significant assets, we may still be able to work with you. The exact terms can vary and can only be accurately determined after the applications have been submitted and processed.

 

I don't meet the requirements outlined above but I can pay additional months of rent upfront or extra security deposit instead. Will you accept that?

No. Due to the current rent stabilized status of the units in the building (and the surrounding regulations) we are not able to collect more that first months rent and a one month security deposit to qualify an application.

 

Do you accept the Insurent™ lease guaranty service (or other institutional/corporate guarantor services)?

No, we do not accept Insurent™, The Guarantors or other similar services at this time. We also do not accept guaranty services from educational institutions.

 

What are the move in costs? 

You'll pay first months rent and a one month security deposit at lease signing. Any initial deposit in the form of cash, money order or certified check you put down when you began your application can be applied to the security deposit. Credit card deposits are handled differently, see the Apply page for details. There is also a $85 per person application fee.

 

What utilities do tenants pay for?

Cold water supply is included in the rent. Tenants open their own accounts with Con Edison (for electricity) and National Grid (for gas) and are billed for those services directly by those companies. Electricity powers the hot water heater located in the apartment. Gas powers the heat and the stove. Television, internet and telephone service are provided by your choice of Optimum or Verizon FiOS opened/billed directly with these providers.

 

What are the lease terms?

We offer one or two year lease terms. Advertised prices are for one year terms. Please inquire as to pricing for two year terms as they are subject to change. 

 

what is the pet policy for 1024 Gates avenue?

Up to two cats are allowed per apartment. There is a $250 pet deposit required per cat. Dogs are not allowed.

 

what is the pet policy for 833 Monroe Street?

Up to two cats are allowed per apartment. There is a $250 pet deposit required per cat. One dog is allowed per apartment for units on the first, second, third and fourth floors only. The maximum allowable size of a dog is 40lbs. Dogs are forbidden from entering the basement, roof or any amenity/communal area other than the hallways on the first, second, third or fourth floor. Dogs may only be walked out through the Monroe Street entrance. A $250 annual pet fee is due at lease/renewal for apartments that keep a dog.

 

Is smoking permitted in the building?

The Brooklyn-Roosevelt is a smoke-free complex. Smoking is prohibited anywhere on premises, including outdoor areas.

 

How much is parking? Is there guest parking?

Our current pricing for parking is $250/month.  Parking is available to residents only. There is no guest parking or short term parking, parking is only available to those who lease monthly parking spots. Specific parking spaces will be assigned to those that lease them.

Are there any fees for the AMENITIES?

There is technically a $75 per month amenity fee. However, it is waived for your initial one or two year lease term. Additionally it has so far been waived on renewals as well (as of January 2019). While it’s collection may be implemented upon a future renewal there are currently no plans to do so.

CAN YOU EXPLAIN THE CONCEPT OF “NET EFFECTIVE” AND/OR “GROSS” RENT?

The monthly rent advertised for the apartment is what is known as a “net effective” rent. Net effective rent represents the average monthly rent you pay during the term of your lease, factoring in landlord concessions (in this case, the second month of rent being free on a 12 month lease). The net effective rent is calculated by dividing the total amount of rent payable during your lease term by the number of months in your lease.

To further illustrate we’ll use the example of a unit where the the “net effective” rent is $2,500/month and the “gross” rent is $2,727.28. 

$2,727.28 times 11 (rather than 12 because one month of the lease is free) equals $30,000.03. $30,000.03 divided by 12 (representing the 12 month total term of the lease) equals $2,500 per month (we rounded down the fractions of pennies) which is the net effective preferential rent.