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1 vs. 2 Year Lease Renewal effect on potential sublease.

Rent stabilzed lease renewals and how to apply Rent Guidelines Board (RGB) percentage increases

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1 vs. 2 Year Lease Renewal effect on potential sublease.

Postby lawful tenant » Sun Dec 25, 2016 8:10 pm

My friend's lease is up for renewal. It is a rent stabilized apartment.

She can renew for 1 or 2 years.

If she renews for 1 year (commencing March 1, 2017) and then in the summer or in the fall decides to sublease for 2 years will she be able to, being that her lease would expire in less than 1 year?

Thank you
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Re: 1 vs. 2 Year Lease Renewal effect on potential sublease.

Postby TenantNet » Sun Dec 25, 2016 9:36 pm

Best to go for 1 year now as it's a 0% increase.

I believe she would be able to sublet for 2 years even if the lease itself expires in the meantime. After all, it's a RS lease and she has the right to renew.

She should handle the sublet in accordance with the sublet regs. When she's away and the lease comes up, make absolutely sure there is a foolproof way to get the new lease offer and renew the lease in 2017. If she doesn't get LL written permission to sublet and does so anyway, it's possible the LL will go to court when she's away. Have a trusted person (not the sublet) check mail and check for any court papers taped to the door.
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Re: 1 vs. 2 Year Lease Renewal effect on potential sublease.

Postby BubbaJoe123 » Mon Dec 26, 2016 8:32 am

TenantNet wrote:I believe she would be able to sublet for 2 years even if the lease itself expires in the meantime. After all, it's a RS lease and she has the right to renew.


That's in line with the commentary on the sublease factsheet (http://www.nyshcr.org/Rent/FactSheets/orafac7.pdf):

"The sublease may extend beyond the prime tenant’s lease term. The prime tenant retains the right to the renewal lease."
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