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sublet or break lease?

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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sublet or break lease?

Postby curious » Mon Jul 29, 2002 9:35 pm

I have a question regarding a sublet. I am currently in a stabalized apt but have to move.

I am on a renewal lease that is around $1800/mo. As I understand it, when I vacate, the landlord will get to file for a vacancy allowance, which will push the rent up to the level where he can file for decontrol of the unit.

I will have to leave the apt with about 6 months left on the lease. Under the stabalization guidelines it implies that since this is a renewal lease, if I sublet, the landlord can charge a vacancy allowance premium during the term of the sublet. Will this mean market rates and decontrol, or just a simple vacancy allowance premium?

Am I better off subletting or just breaking the lease?

If I break the lease, will I see any of my security deposit?

Will he try to charge me for the full term of the lease?

It seems the landlord has much to gain from my leaving...
curious
 
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Joined: Mon Jul 29, 2002 1:01 am

Re: sublet or break lease?

Postby consigliere » Tue Jul 30, 2002 8:59 am

If you sublet the apartment without furniture, you can charge the subtenant the current rent, plus the 10% surcharge allowance set by the Rent Guidelines Board (RGB). You would have to pay this entire amount to the landlord.
 
You would probably be better off approaching the landlord about being released from the lease. The landlord could then legally re-let the apartment for the current rent plus a minimum increase of 18% for a one-year lease, thereby deregulating the apartment by bringing the rent to over $2,000 a month.
 
consigliere
 
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Re: sublet or break lease?

Postby curious » Wed Aug 07, 2002 1:11 pm

Thank you for the replies and the informative links.

My landlord will not relase me from the lease, so I will vacate and hope that he acts quickly in finding a new tenant...
curious
 
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Joined: Mon Jul 29, 2002 1:01 am


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