Guarantor / Co-signer:
This term refers to an individual (in rare cases it could be a corporation) who is willing to take on all of the financial responsibilities associated with renting an apartment. The guarantor usually is an individual who is employed within the United States (in some cases in New York State) and earns an income in excess of 60-80 times the annual rent of the apartment.

Junior
An apartment with a small alcove off the living room that can be converted to a small bedroom or used as a dining area. A "JUNIOR 4" would be a potential 4-room apartment: Living room, bedroom, kitchen and alcove area (bathroom is not counted as a room). It usually includes 1.5 bath.

Lease:
A legal contract between you and the landlord binding you to renting a particular apartment under all the terms and conditions included in the lease. A standard apartment lease in New York is signed for 12 months. There are 5 types of leases used in New York City and they all depend on what kind of an apartment you are renting:

Standard Lease
Just as the name indicates it is the most standard lease, which is usually signed for a period of 12 months. There are no special clauses or conditions in this document. In some cases landlords may write in specifications as to which utilities are included in rent or if any parking is also included.

Rent Stabilized Lease
This lease is exactly the same as the Standard Lease, with the exception that it specifically states by how much the rent can be increased by the landlord if the renter chooses to re-rent the same apartment next year. (Standard leases have no restrictions on rent increases.)

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