RENT OWN SELL
Newyork
RENT OWN SELL
Newyork
It’s expensive living in NYC–rent in the city is higher than the national average. This reality often means people find themselves looking for affordable housing options. One alternative many New Yorkers have considered is subletting their apartment. Before embarking on a similar mission, let’s explore a bit more about what it means to sublet an apartment in New York City.
1- What is Subletting
2- Why Sublet
3- Is Subletting Legal in NYC
4- How to Sublet an Apartment
When an apartment is a sublet, the tenant enters into a contractual agreement with a prospective tenant to live in the apartment and pay the tenant’s rent for the duration of the tenant’s lease term. This shouldn’t be confused with renting out an apartment to a roommate where the roommate’s name is listed on the lease and is bound by the terms of the rent agreement. In a sublet situation, the sub-tenant’s name is not on the original lease and he or she has no contract in place with the landlord.
One of the primary reasons tenants sublet is because he or she has to vacate the apartment before the lease term ends. Subletting allows the tenant to leave without technically breaking. The lease agreement as long as the sub-tenant takes over paying the rent payments.
Yes, it is legal to sublet your apartment in NYC. According to NYC’s sublet laws, a renter who resides in an apartment building that has four or more units can sublet their apartment. However, sublet laws regulate the subletting process and impose certain restrictions on tenants.
One major restriction is that tenants must get express, written consent from the landlord before subletting the apartment. Also, a tenant is only allowed to sublet their apartment if they plan to return to the apartment within two years of subletting the apartment. So, if you don’t plan on returning to your apartment, NYC is not the place to sublet.
Tenants in co-ops and condominiums cannot exclusively sublet their apartments but are subject to the building laws and management’s permission. Also, NYC sublet laws don’t allow tenants who live in rent-controlled buildings or in Section 8 apartments to sublet.
It can be confusing to subletting your apartment for the first time. Here are some steps to make the process easier for you.
The first thing you need to do to sublet your apartment is to get the landlord’s permission. Review the lease terms and confirm whether there are any clauses that restrict you from subletting. While your lease may allow you to sublet, you should still get written consent from the landlord.
Once you get permission from the landlord, list your apartment. You can work with a listing agent or handle the listing process on your own by using social media platforms to publicize your apartment. You’ll need to write the listing to include the subletting terms (at least 30 days but not more than two years), You’ll also need to take and upload photos and include any special qualifying requirements in the listing.
You’ll want to put yourself in the potential sub tenant’s shoes and stage your apartment in a way that would appeal to you. Remove any personal effects or decor and clean the apartment to make it look inviting to prospective tenants. Ensure you have a way to reach out to anyone interested in subletting the apartment.
Since you will still be responsible for the actions of the sub-tenant, be very mindful of who you sublet your apartment to. Follow up on referrals and ask questions to find out why they’re looking for an apartment in the first place. Be sure to include a clause in your sublet agreement that makes them responsible for any damage to the property during the subletting term.
Related Article:
What is NYC Sublet Law – Everything You Need to Know About It?
