About
Seeing Apartments
Applying for Apartments
MyGradPad Account
International Renters
Guarantors
Fees and Deposits
Other
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About
What is MyGradPad?
MyGradPad is a licensed Real estate brokerage specializing in helping recent graduates and young professionals find apartments in NYC. The company was founded as a solution to the sketchy and unreliable websites and agents who prey on those unfamiliar with renting an apartment in NYC.
How are we different?
MyGradPad is a hybrid technology and real estate company. We have access to 100% of inventory on the market. We walk clients through the application and payment process, ensure that our clients find and get the keys to their perfect apartment with as little stress as possible, take the stress out of NYC apartment hunting.
How does MyGradPad save me time and money?
Our proprietary booking software allows you to browse hundreds of listings in minutes and reduces the time it takes for our real estate agents to book apartment tours and greatly increases the efficiency of the apartment hunting process. We save you money by charging a discounted broker fee.
Who are MyGradPad Agents?
All MyGradPad Agents are Licensed Real Estate Salespersons who are experts in New York City real estate. They walk clients through every step of the apartment hunt process. This starts with getting to know exactly what clients are looking for, taking you to see the apartments, providing insight on the units viewed, and finally, helping you apply and secure your new pad.
What does a discounted broker's fee mean?
The standard broker fee charge by real estate brokers in NYC is 15% of the annual rent. MyGradPad's fee is 12 or 13.5% of the annual rent.
Does it cost money to go on an apartment tour?
Our tours are completely free. We only charge a fee if you successfully lease an apartment through MyGradPad. If you do decide to lease an apartment through us, we charge a discounted broker's fee ranging from 12 or 13.5% of the annual rent.
Scheduling
How do I see apartments?
Sign up on our website to set up an appointment with a MyGradPad agent. From there, we take care of the rest. Your assigned MGP agent will be in touch within 24 hours after signing up to discuss your apartment needs and preferences in detail. Once your MGP agent has a better idea of what kind of pad you need, s/he will send you a list of apartments that are currently on the market. We then schedule tours of those units you are most interested in--typically between 5 and 10 units.
Do I get to choose the agent that I work with?
Absolutely. If you want to work with a specific agent, just let us know!
If I have a question about an apartment I visited, who do I contact?
Reach out to the MyGradPad agent who showed you that apartment. Our agents try to be available for you 24/7.
How much do MyGradPad tours cost?
Our tours are completely free!
Help! I'm new to NYC and have no idea which neighborhood would be the best fit for me. How do I figure this out?
The MGP Neighborhood Guide offers a good overview of the various NYC neighborhoods. Still unsure? As with any question you may have, you can always reach out to a MyGradPad agent. Our agents are extremely knowledgeable and experienced. After discussing your needs and preferences, MGP agents are happy give suggestions for neighborhoods that seem to accommodate your wants and needs.
Applying for Apartments
Okay, I found an apartment I like. Now what?
You will need to complete an application and provide the following the supporting documents:
  • Proof of employment letter on company letterhead stating position, start date, length of employment, salary, and opportunities for bonuses;
  • If self-employed, CPA letter stating annual income and source of income;
  • Two most recent bank statements;
  • Last two years' tax returns: first two pages, including signature page;
  • Last two pay stubs;
  • Reference letters from or contact information for previous landlords;
  • Copy of your driver's license or passport.
Does every Landlord require all of the supporting documentation listed above?
Every landlord is different, but they typically ask for employment information and rental history.
How much money do I need to make to qualify for renting an apartment without a guarantor?
Landlords typically require that a renter (or renters) have an annual salary that is equal to 40 or 50 times the monthly rent. If you do not meet this requirement, many landlords accept guarantors who earn an annual salary of at least 80 to 90 times the monthly rent.
What funds are typically required at lease signing?
  • First month's rent
  • Security deposit equal to 1 or 2 month's rent (depending on the strength of the application)
  • Broker & co-broker's fee which is 12 or 13.% of the annual rent
Do my roommates have to provide all the same paperwork?
Landlords require all roommates and guarantors to fill out the same paperwork. Landlords want to know who will be living in their building and that they can afford to pay the rent.
How long does it take to get approved?
While every landlord is different, you should expect to hear back within 24 to 48 hours after submitting a complete application package.
What is the process if the apartment is in a condo or co-op building?
Applying for a condo or co-op is a longer process, as it requires approval from either the apartment owner and/or the co-op board. The entire condo or co-op application process can take anywhere from a few days to a few weeks. Here are the steps involved:
  • The apartment owner will review your application
  • If the owner approves your application, an official board package is compiled and sent to the condo or co-op board of directors. These applications are more thorough and typically require both personal and professional reference letters
  • Co-op apartments may require an in-person interview before approval
What are acceptable forms of payment for my rental application package?
MyGradPad makes every effort to accommodate your preferred choice of payment. Typically we can accept cash, credit card, certified check, money order, or wire transfer. Depending on the credit card company and amount of the charge, credit card payments may be subject to additional processing fees.
What if my rental application is not approved?
If for some reason your application is not approved, it could be because another application was submitted first or had stronger qualifications. The good news is we have your documents ready and are fully prepared to quickly submit your next application.
MyGradPad Account
How do I create a MyGradPad account?
You can create an account at any point by clicking here. If you have any questions or need assistance accessing your account, please email us at support@mygradpad.com.
What does creating an account enable me to do?
By creating an account, you are able to schedule apartment tours and save apartments you like.
International Renters
How do Landlords feel about International Renters?
New York is a melting pot of people from countries all over the world. If you are relocating to New York for a job or school, you will most likely need to pay the full year's rent upfront unless you can find a guarantor who lives and works in the United States.
Guarantors
What is a guarantor?
A guarantor is a person who is financially and legally obligated to pay rent if the occupants fail to pay the rent. Guarantors are responsible for everyone on the lease.
Who can act as a guarantor?
A guarantor is someone who is willing to guarantee the rent and other provisions in the lease, in case the tenants for any reason are unable to fulfill their rent obligations. Landlords often require that guarantors live in the tri-state area, but some will accept guarantors from other states. Guarantors must work and live in the United States. While guarantors are usually family members, they do not need to be.
Fees and Deposits
How much are application fees?
Application fees range from $50 to $200 per application. The application fee cost is set by either the landlord, condo or co-op board. All applicants, including guarantors are required to submit application fees. These fees are always non-refundable.
What is a Good Faith Deposit?
A Good Faith Deposit is used to secure an apartment while going through the application process. The deposit is typically $500 to one month's rent, and is applied to the first month's rent once you are approved. If you are not approved, the deposit will be returned. If you back out of the deal after you are approved, it will not be returned.
Other
How far in advance should I start looking for my apartment?
The best time to look for your apartment is five to six weeks prior to your lease start date.
How long do apartments generally stay on the market?
Apartments can rent within hours of going on the market or stay on the market for weeks. Typically the best apartments get rented right away.
What is the best time of year to look at apartments?
The summer is the busiest time for searching, making it the most competitive; however, during this time the most inventory available.
What if I can't come to New York to go on an apartment tour?

We always recommend that clients should make every effort to go on an apartment tour; however, we understand that sometimes in not an option. For clients who are abroad or not able to go on an apartment tour, our real estate agents will take you on your apartment tour live through FaceTime or Skype. Before your live tours, we will work with you to define your preliminary apartment requirements and send you sample apartments.

Once we find you your apartment, we will apply for the apartment on your behalf (find out about paperwork requirements and application fees). After we receive your application approval, the landlord will require payment and leases to be signed as soon as possible. Payments can be wired to MyGradPad and we will cut the checks for the landlord on your behalf.

Can you help me find a roommate?
Although MyGradPad can find you your perfect apartment, we cannot help you find that perfect roommate.
What does "no fee" mean?
This means that either the landlord is paying the broker fee or that you are dealing directly with the landlord. Since the demand for apartments is very strong, these types of apartments are rare.
What is a "flex" or "convertible" apartment?
A Flex or convertible apartment is one where an area of the apartment is divided to create an extra bedroom. Although flex apartments are very common in NYC, some landlords do not allow their apartments to be modified.
Have more questions?

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