For those who have just moved from Korea, the biggest obstacle is the lack of a credit history. It's not that the score is low; there is simply no record at all. In a competitive market like Brooklyn, this becomes even more significant.

The average rent for a one-bedroom in Brooklyn is $4,095 based on RentHop data (as of August 2026). According to RentCafe, it is similar at $4,087. This is among the highest in New York City.

So, what should applicants without a history do? One option is to use services like Nova Credit to convert overseas credit records for submission. Another method is to offer several months' rent in advance.

New York City management companies typically require tenants to have an income that exceeds 40 times the annual rent; otherwise, a cosigner is needed. The cosigner must have a credit score of over 700 and an income that is 80 times the annual rent.

There are several factors that make up the score. Payment history and utilization rate are the most significant. The more records of timely payments, the better. A lower credit utilization rate is preferable.

Documentation is required for the application. Pay stubs, proof of employment, and identification are basic requirements. A recommendation letter from a previous landlord is also needed. Having these prepared in advance can speed up the review process.

Rental history is also considered. A recommendation letter from a previous landlord is necessary. If it's the first rental, there will be no record. In that case, having a cosigner is the quickest solution.

Income is based on pre-tax figures. If self-employed, tax returns may be required. Documentation can vary slightly from one management company to another.

What if it's difficult to find a cosigner? Rent guarantee insurance is an alternative. A third-party company assumes the risk. Signing up through companies like TheGuarantors or Insurent can cost between 4.5% to 10% of the annual rent.

From an investor's perspective, this is viewed differently. The higher the rent, the stricter the review process becomes, as there is a greater risk of rent default.

New York State has set a deposit cap at one month's rent. The settlement details and remaining balance must be returned within 14 days after moving in.

Even within Brooklyn, conditions vary by neighborhood. Areas like Downtown Brooklyn, which have many new large complexes, have stricter score requirements. In contrast, small buildings operated by individual landlords tend to place more weight on rental history.

Families coming from other states should also consider that the tax structure may differ. New York's property tax and income tax often vary from those in previous states of residence.

Some families look at school districts. There are also investors. Families from other states are present as well. Ultimately, the factors considered are the same: score, income, and history.

Competition in Brooklyn is fierce. Those who have their documents ready have the advantage. Delaying can result in missing out on available properties.

If you have plans to move, it's best to check in advance. The first step is to review your report. If there are errors, request corrections immediately.

Timing is also important. During winter, the number of available properties decreases. Conversely, spring and summer see a surge in applicants. If you can adjust your moving date, targeting the off-season can be a strategy.

Popular neighborhoods like Brooklyn Heights or Park Slope tend to have stricter review criteria. In contrast, relatively affordable areas like Bushwick or East New York often have more flexible conditions.

Additional costs such as maintenance fees and parking fees should also be calculated separately. Budgeting based solely on rent can lead to discrepancies with actual expenses. It's safer to prepare for these additional costs as well.

Real estate investors also consider the likelihood of tenant lease renewals. Tenants with higher credit scores are generally seen as more likely to stay longer and renew their leases. Whether utilities are included is also a crucial item to confirm before signing a lease. Calculating winter heating costs in advance can help with budgeting. Directly confirming with the landlord before signing is the most accurate method.

This article is not investment or legal advice. Please consult a professional before entering into any contracts.