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Re: Assignment of Lease

Posted by Mark Smith on June 19, 1999 at 00:27:43:

In Reply to: Assignment of Lease posted by richard2 on June 18, 1999 at 22:02:12:

The landlord does not have to consent to an
assignment under the assignment/subletting law
[Real Property Law 226-b]. Even if the landlord is unreasonable in refusing to consent to an
assignment, your only recourse is to cancel the
lease.

If the landlord unreasonably refuses to consent
to a subletting, you can go ahead with the sublet and take your chances in court, which will
determine whether the landlord was unreasonable.
If you sublet your apartment fully furnished, you are entitled to a 10% furniture sublet surcharge.

In any event, the landlord is entitled to a
sublet surcharge (currently set at 5% by the Rent Guidelines Board). But with a minimum 20%
vacancy allowance for a two-year lease under the
rent stabilization law, you can see why landlords don't like to consent to a subletting.


: I would like to assign my lease to a friend.
Does the landlord have the right to increase the
rent right away (vacancy bonus) or can he pay the rent I'm paying? Thanks.



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