Ask Homey: the 8 questions NYC renters ask most.
Income, guarantors, roommates, broker fees, neighborhoods, move-in dates, fake listings and pets. The questions renters ask Homey every day, answered straight.
The question renters ask Homey most is how much they need to make. In NYC, most landlords want yearly income of at least 40x the monthly rent: $166,000 at the median apartment.
- →Guarantors, including parents, are commonly asked to earn 80x the monthly rent.
- →There are no broker fees on Nessoo.
- →Only verified landlords and brokers get onto Nessoo.
Homey is our AI agent at Nessoo.
Renters ask it everything. But 8 questions come up over and over.
So here they are, with the straight answers.
1. How much do I need to make to rent this apartment?
Most NYC landlords want your yearly income to be at least 40 times the monthly rent.
This is common practice. It is not a law.
At the median NYC asking rent of $4,150:
$4,150 x 40 = $166,000 a year.
On Nessoo, you don’t have to guess. Your income is already verified, so Homey only ranks apartments you actually qualify for. The median verified renter on Nessoo earns 52x their monthly rent.
2. Can I use a guarantor, or my parents?
Yes. A guarantor signs on to cover your rent if you can’t. A lot of the time, that is a parent.
The catch is the bar is higher. Many landlords ask guarantors to earn 80 times the monthly rent. Again, common practice, not law.
$4,150 x 80 = $332,000 a year.
If your guarantor is close, ask the landlord. Every building sets its own rules. More on guarantors.
3. Can I combine income with my roommate?
Often, yes. Many landlords look at the combined income of everyone on the lease.
Two roommates splitting a $4,150 apartment need $166,000 together. That is $83,000 each.
Rules vary by landlord, so ask before you apply. The roommate math, in full.
4. Are there any broker fees?
Not on Nessoo. Zero.
And under the FARE Act, in effect since June 11, 2025, whoever hires the broker pays the broker. A landlord’s broker cannot charge you a fee, and every fee you will pay has to be in the listing.
The only time you pay a broker is if you hire one yourself. The FARE Act, explained.
5. Which neighborhoods fit my budget?
Start with your number. Take your yearly income and divide it by 40. That is your max rent.
$120,000 / 40 = $3,000 a month.
That is exactly what Homey does for you. It ranks apartments on what you qualify for, how your income matches the rent, and your life: kids, schools, where you work. So the neighborhoods it shows you are ones that actually fit.
6. How fast can I move in?
It depends on the apartment’s move-in date. But once you find the right one, things move fast on Nessoo.
The median time to lease on Nessoo is 4.8 days.
Being verified before you tour is what makes it fast. Nobody is waiting on your paperwork.
7. Is this listing real?
Smart question. Rental scams are everywhere, especially on social media.
- Never pay before you see it. In person or on a live video.
- Watch the price. Rent far below the area is a red flag.
- Watch the pressure. “Send the deposit today or you lose it” is how scams work.
- Watch how they want to be paid. Wire transfer, gift cards or crypto means it is a scam.
On Nessoo, this is handled for you. Nessoo is closed. The only landlords and brokers on it are the ones we let in, and we verify them first. How verification stops fake listings.
8. Do you allow pets?
Pet rules are set building by building, and sometimes unit by unit.
Tell Homey about your pet like you tell it everything else about your life. Then get the pet policy in writing before you sign.
Two more I hear all the time
How much can a landlord take for a security deposit? No more than 1 month’s rent. That is New York law. When you move out, they have 14 days to return it with an itemized statement of anything kept.
How much can they charge for an application? The actual cost of the background or credit check, or $20, whichever is less.
How I see it
Most renters walk into a tour knowing less than the person showing it.
It doesn’t have to be that way.
Know the rules before you tour. It is the cheapest leverage you have.
“Know the rules before you tour. It is the cheapest leverage you have.”
Frequently asked questions
What is the 40x rule in NYC?
It is a common landlord practice, not a law. Landlords want your yearly income to be at least 40 times the monthly rent. For a $4,150 apartment, that is $166,000 a year.
How much income does a guarantor need in NYC?
Many landlords ask a guarantor to earn 80 times the monthly rent. That is common practice, not law. For a $4,150 apartment, that is $332,000 a year.
Do I have to pay a broker fee in NYC?
Not to a broker the landlord hired. Under the FARE Act, whoever hires the broker pays. You only pay a broker you hire yourself.
Can I combine income with my roommate in NYC?
Often, yes. Many landlords look at combined income for roommates on the same lease. Rules vary by landlord, so ask before you apply.
How do I know if a NYC rental listing is real?
Never pay before seeing the apartment, be wary of rent far below the area and pressure to decide fast, and never pay by wire, gift card or crypto. On Nessoo, only landlords and brokers Nessoo lets in and verifies can list.
Einhorn, Gabe. “Ask Homey: the 8 questions NYC renters ask most.” Nessoo Report, Nessoo (nessoo.com), Oct 16, 2026.
Co-founder of Nessoo, the verify-first rental marketplace in New York. He writes every Nessoo Report. nessoo.com
Sources
- NYC Department of Consumer and Worker Protection, FARE Act FAQ
- New York General Obligations Law 7-108 (security deposit cap and 14-day return)
- New York Real Property Law 238-a (application and background check fee cap)
- StreetEasy, September 2026 market report (NYC median asking rent, $4,150)
- FTC, "Rental Listing Scams" (red flags and payment methods)
- Nessoo platform data, October 2026 (median verified renter earns 52x rent; median 4.8 days to lease)