*Please note that all policies described below are subject to change without notice
What is the difference between 1024 Gates Avenue and 833 Monroe STreet?
1024 Gates Avenue is a 49 unit building that sits in the footprint where the Eastern District Savings bank was and retains some of its architectural features. It consists primarily of Studio and One Bedroom apartments. It also has a full time doorman service. 833 Monroe Street was built where the parking lot for the bank was and consists of 86 units all of which are one or two bedrooms. Unlike 1024 Gates Avenue, all units in 833 Monroe Street also have dishwashers. Both buildings are interconnected via the cellar level and tenants from either building have access to all amenities throughout both buildings with the exception of the doorman service. 833 Monroe Street tenants instead have a virtual doorman service for package receipt. Packages are directed by the virtual service to a package room located in the cellar for tenants to pick up at their convenience.
CAN YOU SUMMARIZE THE APPLICATION PROCESS?
The applicants and any guarantors or roommates will be required to fill out an application form and pay a $20/person application fee. There will be a list of documents that each applicant/guarantor will be required to provide to substantiate their income/assets. Items you'll be asked to submit may include but are not limited to:
Copy of government-issued photo I.D.
Employment verification letter. (On company letterhead, stating position AND salary [plus bonus, if any], with a contact phone number)
If Self-Employed, a letter stating position and income from your Accountant or Lawyer.
First and signature pages of last Federal 1040 tax form
Copy of two current, consecutive pay stubs
Copy of the summary page of your most recent bank statement
Proof of any additional income/savings (stocks, bonds, savings, etc…) if applicable
I'd like to apply for an apartment. Will I qualify?
An applicant should be currently employed and financially sound to qualify on their own. They should earn an annual income equal to or above 40x the monthly rent of the apartment they are interested in applying for. (e.g. If an apartment is $2,000/month, Tenant must earn $80,000 annually or higher to qualify.) A qualified Tenant must also have a strong United States credit history and a United States social security number. Please note the scoring system we use to assess applicants may show us a lower score than scoring systems that you as a consumer have access to and that the requirements and credit standards applied to voucher holders may be different than those mentioned in this FAQ. Incomes from multiple applicants cannot be combined to meet the income requirement.
I HAVE A GOVERNMENT ISSUED HOUSING VOUCHER (SECTION 8, CITYFEPS, ETC). DO YOU ACCEPT THAT?
Yes. Please consult with a representative of the agency that issues your voucher for guidance on what documents may be needed with your application. Please include the contact information for agency support personnel who can respond to questions and requests for your voucher program.
Seems like I (and/or my roommate) don't qualify on my/our own. Can I use a co-signer/guarantor?
Yes!
What is a Guarantor?
A Guarantor is someone who is currently living and working in the United States and agrees to be equally responsible for all of the rules, regulations, and guidelines of the lease for the entire term. A Guarantor does NOT guarantee only an individual Tenant on the lease but the terms of lease itself. If necessary, we require only 1 Guarantor, even if there are several Tenants and roommates. The landlord may accept an alternate Guarantor or an additional one if the initial Guarantor does not qualify individually. We do not accept International Guarantors living and working outside of the United States.
Who can qualify as a Guarantor?
Relatives who are financially sound and should make an annual income equal to or above 80x the monthly rent of the apartment you are interested in applying for. (E.g. If an apartment is $2,000/month, a Guarantor must earn $160,000 annually or higher to qualify.) A Guarantor must also have a strong US credit history and a US social security number. The landlord does not accept corporations, institutions or businesses to serve as Guarantors.
What if my Guarantor(s) do not meet the requirements?
If your Guarantor does not meet the income requirements, but has a strong credit history and significant assets, the landlord may still be able to work with you. The exact terms can vary and can only be accurately determined after the applications have been submitted and reviewed.
I don't meet the requirements outlined above but I can pay additional months of rent upfront or extra security deposit instead. Will you accept that?
No. In July 2019 New York State amended it’s laws surrounding residential rentals to prevent landlords from collecting more than first months rent and a one month security deposit. You cannot pay "advance rent" either.
Do you accept the Insurent™ lease guaranty service (or other institutional/corporate guarantor services)?
No, we do not accept Insurent, The Guarantors, Rhino or other similar services at this time. We also do not accept guarantee services from educational institutions.
What utilities do tenants pay for?
Cold water supply is included in the rent. Tenants open their own accounts with Con Edison (for electricity) and National Grid (for gas) and are billed for those services directly by those companies. Electricity powers the hot water heater located in the apartment. Gas powers the heat and the stove. Television, internet and telephone service are provided by your choice of Optimum or Verizon FiOS opened/billed directly with these providers. It would not be possible to give estimates on monthly utility costs. In NYC utility rates fluctuate with energy market prices, usage patterns, seasonality and even time of day (it's more expensive to use electricity during the day than in the evening for example).
How are the apartments heated/cooled?
Each apartment has its own central air and central heat system controlled by the tenant using the in-unit thermostat. There is one zone for the entire apartment, you cannot set the temperature individually per room. Tenants pay for heating and cooling via the gas and electricity bills respectively.
What are the lease terms?
We offer minimum one or two year lease terms. No shorter leases are available.
Is renters insurance required?
Yes, tenants must hold a renters insurance policy at all times. Renters insurance is a relatively affordable product, it generally runs under $300/year.
what is the pet policy for 1024 Gates AVenue and 833 Monroe Street?
Up to two cats are allowed per apartment. Dogs are no longer accepted as pets in the complex.
Is smoking permitted in the building?
The Brooklyn-Roosevelt is a smoke-free complex. Smoking is prohibited anywhere on premises, including outdoor areas.
How much is parking? Is there guest parking?
The pricing as of this writing (March 2023) is $250/month but this pricing is subject to change at any time subject to demand and availability. Parking is available to residents only. There is no guest parking or short term parking and is only available to those who lease monthly parking spots. There is a minimum three month parking space lease and the term can be month to month thereafter. Specific parking spaces are assigned to those that lease them.
Are there any fees for the AMENITIES?
There is a $75 per month amenity fee. However, it is waived for your initial lease term. The management however reserves the option to begin collecting this fee on a future lease renewal at it’s discretion.