breaking lease

Possible if you can get a qualified person to take over the lease. Talk to the management company.

I live in a Related building now. Honestly, I'd ask them what your options are. They have always been perfectly reasonable with us. Do you have a "good" reason for wanting out early?

I was wondering this too. I am current in a lease until June 2010. If I want to buy a place, do I basically need to wait until it is closer to the end of my leases? What do people usually do?

Do whatever you want to do. If you find a place you really like, then pay the penalty and break the lease. It's not a crime to break a lease.

what is the typical penalty size? 1-2 months rent?

A few years ago, I lived in a rental building where the managing agent was terrible. I called the attorney for the building and asked if I could be released from my lease for the remaining two months of my term. He agreed and we executed a Release document. I wasn't dealing with a large company such as Related, but nothing to lose in asking to be released from executing the remainder of the term of your lease.

I thought people dealt with this in ny by subletting for the remaining lease months.

Sometimes it's difficult to find a person for a few months sublet. Some people aren't comfortable subletting an apartment to someone that they don't personally know since the primary person who is still responsible for any damages to the apartment is the person who signed the lease, not the person subletting.

Difficult to find a sublet. And most people attempting this aren't realistic. They price it too high. With incentives for new rentals equalling 2 months on a 14 month term, you have to give an incentive for someone to move in. I see people attempting to sublet all the time and I just laugh that people want to be cash flow neutral and don't look at the overall market. Remember too, you are competing with the rental firm itself which has more options and professional staff.

i'm thinking the same thing and what I would do is sublet the apart. at 50% off the rental price..at least you don't lose everything.

I renewed my lease that expires on 9/30 yesterday. I changed my mind today. Can I cancel it on Monday or I am I stuck?