How strict is the 40x rent rule in NYC?
For example, if I make $205k, the 40x rule would put me at around $5,125/month. If I find an apartment I really like for $5,400–$5,500, is that basically an automatic no, or is there usually room to negotiate with the landlord?
I also make some additional income from consulting on the side, but it’s variable and harder to document as regular income.
Just trying to understand how this works in practice before I completely rule out apartments slightly above the 40x limit.
u/tweed1772 — 6 days ago