Because we own and operate our buildings, we do not need to charge a fee when you sign a lease. All of Stellar Management’s rental listings are no-fee rental apartments. In fact, Stellar Management maintains one of the largest collections of no-fee rental units in New York City. We have no fee apartments in over 80 buildings throughout New York City in all five boroughs.
Should the applicant provide complete documentation, application processing, and approval can be completed within 24 hours. We aim to have leases signed within 72 hours of application approval.
Residents are required to provide documentation of an annual income that is equal to 40 times the amount of the monthly rent. For example, if the rent is $2,000.00 a month, an applicant must show an income of no less than $80,000.00 ($2,000 x 40). Combined incomes will be considered for multiple applicants.
Each applicant must provide the following documents and fees:
• A completed application form
• A copy of photo ID and Social Security Card
• An employment verification letter
• Three consecutive pay stubs
• Last two months’ bank statements (must reflect the name, account number, and a minimum balance three months equivalent to the rent of the desired unit)
• Full income tax returns
• Reference from the previous landlord
*Note: When uploading your documents online, upload pay stubs and employment letters under Tax Returns
**Note: Credit score has to be 650+, no delinquents accounts or bankruptcy
A guarantor co-signer must also apply, provide proof of income equal to 80 times the monthly rent, and currently live in the United States.
The standard security deposit is one month’s rent. In some cases, additional security costs may be incurred during the application process. Security deposits earn interest subject to bank regulations. Deposits and interest will be refunded at the end of the lease only if all terms have been fulfilled, and are subject to a 1% administrative fee.
New Residents need to provide certified or bank checks at the time of lease signing. All details will be reviewed prior to signing with a leasing agent.