Subletting in NYC can be a great way to test out Manhattan neighborhoods. You can test your commute, local restaurants, and get the vibe of an area by subletting. The NYC housing market is daunting to say the least. With an average monthly rent of $3,642 and many Manhattan apartments leaving the market within hours, it is no surprise that prospective tenants wonder if they’ll ever find a home.
Finding a decent sublet in NYC depends on how well you tap into your resources. Fortunately for you, NYC sublets are no exception to the service-based consumer market New Yorkers thrive off. Platinum Properties has knowledgeable NYC Realtors that can make your NYC apartment search as seamless as the adored food delivery service itself!
The basics of sublets in nyc
Despite poorly derived doubt, subletting is perfectly legal! Don’t fear the paperwork as it could only protect you. Before you blindly make a verbal agreement and willingly hand over thousands in cash, make sure you understand the terms of subletting in NYC. There are a few basic rules that allow a tenant on the lease to sublease or sublet in NYC. For example:
1. Their name has to be on the lease.
2. The building has to have four or more units.
3. A formal request must be submitted to the landlord.
4. The sublet period cannot exceed two years in a four-year period for rent-stabilized apartments, and it cannot exceed the lease period for non-rent stabilized apartments.
To sublet in nyc or not…
The Pros
Flexibility: The length and terms vary so it can easily be adapted to your specific search.
Readiness: Depending on the terms, some NYC sublet apartments are left furnished and ready for immediate move-in.
Less paperwork: Bypassing the dreaded, infamous NYC rental application never felt so good!
The Cons
Housemates: Many sublets in NYC often include roommates that you don’t get to choose.
Paperwork Discrepancies: The arrangement between lessee and sublessor is definitely not as well established as that of a landlord and lessee. Try to DTR, or define the (rental) relationship, before you sign!
Limited resources: It may be unclear who to contact about maintenance, renter’s insurance, or damages to the apartment.
Subletting in NYC doesn’t have to be a struggle. It can be a great way to move in quickly, avoid some of the paperwork, and try out a new NYC neighborhood. Search apartments with Platinum Properties today and find exclusive NYC sublets!
Here are two of our featured sublets:
201 East 87th Street, Apt 12H – NYC Sublet
This beautiful full service building is one of Upper East Side’s finest. The 1 bedroom 1 bath is located on the 12th floor and features a spacious living room and bedroom with tall ceilings and amazing uptown views. Large separate stainless steel kitchen and renovated bathroom highlight this incredible unit.
This 3 month lease assignment – starts 2015 until 2016, with the option to renew thereafter for an additional year. The building amenities include a full-time doorman, concierge, parking garage with valet, rooftop health club, pool, and laundry room.
Contact our amazing agent Brittany Lopez for a private showing at 917-588-7270.
90 Washington Street – NYC Sublet
This gorgeous, loft-like studio offers abundant closet space, a great entry foyer, and a gallery hallway for displaying art work as well as dining furniture!
It is available for a short term lease with the option to renew. The Lease runs until December 31st, 2015.
The full-service building features a gym, 24 hour doorman, concierge, wrap around terrace, as well as other coveted amenities.
Contact the exclusive agent, Timur Mone, for a private showing.
While the Manhattan apartment search may be difficult, with our guidance, it can be a pleasant experience. View our listings, or contact an agent to get started on your search!
