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Assignment of Lease Question

Started by mag1980
over 16 years ago
Posts: 31
Member since: Jul 2009
Discussion about
I am looking to take over a tenant's lease for his remaining 6 months. Today, the tenant went to management to ask about this, and management said that it would only enter into a new, 1 year lease with me. Being somewhat familiar with real estate law, I informed the tenant that while management can unconditionally refuse an assignment (unlike a sublease), if its refusal is unreasonable, then it must let the tenant out of his lease upon 30 days notice. The tenant promised to go back to management armed with this information. The only question he had was whether the landlord could penalize him anything (e.g., his security deposit) for assigning a lease? I think not.
Response by mag1980
over 16 years ago
Posts: 31
Member since: Jul 2009

Also, one other question -- upon an assignment of lease, can management raise the rent on the person taking over the lease? Again, I wouldn't think this is allowed.

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Response by liulide
over 16 years ago
Posts: 36
Member since: Jan 2009

i could be wrong but i believe the limitations you cited (eg the landlord can only reasonably refuse assignment) only applies to regulated rentals, ie rent stabilized units. anything goes in market-rate units, depending on the lease.

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Response by mag1980
over 16 years ago
Posts: 31
Member since: Jul 2009
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Response by liulide
over 16 years ago
Posts: 36
Member since: Jan 2009

i stand corrected. still worth checking out the lease to see if the tenant waived his rights, to the extend these rights are waivable.

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Response by mag1980
over 16 years ago
Posts: 31
Member since: Jul 2009

I'm not posting this to "correct" liulide, but rather so that everyone knows what their rights are. Under New York Real Property Law Section 226-B on the right to sublease or assign:

Any provision of a lease or rental agreement purporting to waive a provision of this section is null and void.

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Response by liulide
over 16 years ago
Posts: 36
Member since: Jan 2009

thanks mag. good to know, for the next two weeks, the last two weeks of my life as a renter.

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Response by flatironj
over 16 years ago
Posts: 168
Member since: Apr 2009

mag, if the apartment is rent stabilized and the primary tenant is no longer claiming it as his primary residence and does not intend to return, he has no right to sublease or assign. this is in 226-B.

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Response by mag1980
over 16 years ago
Posts: 31
Member since: Jul 2009

You're correct regarding rent stabilized and subleasing, but the applicable provision is not New York Real Property Law 226-B. Rather, you need to look toward 9 NYCRR 2505.7(a) and 2626.6(a).

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Response by Floridian
over 14 years ago
Posts: 20
Member since: Jul 2009

Does anyone know if a landlord is able to charge the new tenant extra rent in return for permitting a lease assignment? I just took over someone else's lease and the landlord is charging me an additional 5% of the rent per month.

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Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010

Didn't they give you a lease? What does it say?

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