While there are hundreds of tenants looking to sublet their apartments out there,
you as a smart renter need to make sure that you understand all rents and expenses that comes with the sublet.
Does the rent you pay the tenant include utilities and electricity? Are there any hidden costs?
In addition, you should confirm that the landlord is aware of the sublet and agrees to it.
Many buildings in NYC don't allow subletting, and it is not uncommon to see tenants go around their landlords
and secretly sublet the apartments. But it eventually will bring you, the subtenant, more problems if the landlord finds out about the sublet.
Last but certainly not least, always sign a sublease and specify the terms.
Remember, this piece of paper is very important, and it can protect you if anything happens.
Confused about the differences between a sublet and a leasebreak unit? Don't be. In New York, it's not unusual for tenants to end their leases prematurely. In situations such as these, landlords or management companies are forced to make a choice between the following scenarios. The first scenario allows the current tenant to find a "subtenant" who would pay rent to the current tenant who is then responsible for paying rent to the landlord. In the second scenario, a leasebreak has the current tenant end their lease with the landlord once the current tenant has found a new tenant willing to sign a new lease with the landlord. In both scenarios, most current tenants won't be penalized or be on the hook to pay rent through the end of the lease as long as they can find a qualified new tenant. Often, the current lease holder might be willing to negotiate price in order to avoid continue paying for an apartment they aren't living in anymore. However, make sure to check with the landlord or management company that they are okay with the sublet/leasebreak and keep in mind that rent may go up with the new lease or as soon as the current lease expires, which is generally in less than a year.