subletting rent stabilized unit

[hsojrd]

I have a rent stabilized unit that is due for lease renewal in October 2003. I would like to sublet the unit for the next 1-2 years (I have been here 8 years) and i have never sublet before. I have searched tenant.net and I understand the laws that limit what I can charge the person who sublets from me, but on one of the fact sheets it states that the LL can charge a "sublet allowance equal to the vacancy allowance" when i renew my lease in october 2003. Can someone explain this to me in plain English (and not just cut and paste the legal stuff). For this example the current rent is $1000/mth and the probable 2 year lease increase will be 8.5% (as we all know). thank you.

[hsojrd]

Just to clarify the above post - this is a sublet, not an assignment.

[Lilly]

before your renewal you can sublet for $1000 + 10% of your rent if its furnished plus the LL can charge another 10% of the $1000. LL gets $1100pm you keep the $100pm
After your renewal its 8.5% higher plus the same 10% of the renewal lease rate for the furnishings and the 10% for the LL. the same