How do I rent an apartment in a new city while looking for a job?

Question

I have recently graduated from college and plan to move to another state. It is difficult to job search from out of state, but without a job, it is almost impossible to get approved for an apartment. A co-signer is not an option. I have savings to pay the rent for several months, a year if necessary, and in my field, it typically takes less than one month to find a job. How do I get someone to rent to me without a job?

Answer 1

If you have that much money in savings, a copy of your bank statement should suffice for proof of income. Landlords aren't interested in a job, just that you can pay the rent. A job is only one way to cover that.

Answer 2

Plan on having plenty of cash. Instead of 3 months up front, try 6. You'll also need excellent references, and possibly a local cosigner with excellent credit and income. Looking for jobs in NJ/NYC isn't going to get much easier being right there. These are expensive areas -- far more expensive than Minneapolis. If you work in NYC, you are subject to federal, NY state, and NYC income taxes, plus living in NJ, you would be subject to NJ taxes. With extraordinarily high taxes and cost of living, it's very tough. And with the meltdown on Wall Street, jobs are scarce. Do everything you can to find a job before you try to move or you are "out of the frying pan, into the fire."

Answer 3

Most communities will want you to show at least 3 times the amount of rent in the bank. As long as you do not have bad credit or negative rental history the bank statement should be fine. Worst case scenario they may ask for a higher security deposit. What you are describing is pretty common so you should not have any trouble. Good Luck!

Answer 4

Try living at a local room and board or the Y. They only care that you can pay and it isn't a lease, you can leave at will.