I just bought a place and am aiming to move from my large studio apartment on the UES at the end of January. Here's the problem -- my lease doesn't end until June 30. If I want to break my lease, I have to pay a nominal fee and then rent/month until someone takes over it with approval from my landlord (i.e. credit checks, etc.). I'm thinking of subletting it, but the response from craigslist has... [more]
I just bought a place and am aiming to move from my large studio apartment on the UES at the end of January. Here's the problem -- my lease doesn't end until June 30. If I want to break my lease, I have to pay a nominal fee and then rent/month until someone takes over it with approval from my landlord (i.e. credit checks, etc.). I'm thinking of subletting it, but the response from craigslist has been small. It's a great apartment -- elevator bldg, small balcony, separate kitchen, lots of light, close to subway (apt is on 89th bet Lex/Third). Rent is ~$1,650. I'd rather give it unfurnished, but I could leave a few items (table, chairs, bed, etc.). What do you think the best route is? Should I tell my landlord that I'm breaking the lease so that they can let brokers know that it's unoccupied? I'm wondering if this is a good plan though since I'm not sure what their incentive would be to push getting someone in there since they're going to be getting rent from me anyhow. What do you think the best option is? Any advice would be much appreciated!
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Response by front_porch
about 16 years ago
Posts: 5320
Member since: Mar 2008
I'm not a UES broker, but $1650 sounds expensive. Is that the price you put it out on Craigslist at?
I'd try advertising it at $1350-$1400, do a sublet, and just eat the few hundred a month till your lease term ends.
ali r.
{downtown broker}
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Response by anonymous
about 16 years ago
Remember, if you rent it out, a month unrented is an asset that you can never recover. Price lower and get someone in more quickly.
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Response by drdrd
about 16 years ago
Posts: 1905
Member since: Apr 2007
I've never sublet but I can't see someone moving all their things into an apartment for 6 months; I've always thought that sublets were generally let furnished, no?
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Response by murray888
about 16 years ago
Posts: 130
Member since: Oct 2009
Best bet might be to try to rent to a qualified college student (with a guarantor) who only needs place to end of semester. $1,650 is on the high side, though, so you might need to come down.
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Response by NWT
about 16 years ago
Posts: 6643
Member since: Sep 2008
For a lousy five months, subletting isn't worth the hassle. Your closing may be delayed past the end of the month, anyway, and staying put will let you do any work on the new place at leisure.
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Response by JEM
almost 16 years ago
Posts: 50
Member since: Jun 2007
Tea700 did you find someone to sublet? Could you let us know as I know someone who needs a place for a few months when her apt is being renovated. This may fit the bill.
Thanks.
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Response by jim_hones10
almost 16 years ago
Posts: 3413
Member since: Jan 2010
front_porch
about 8 weeks ago
ignore this person
report abuse I'm not a UES broker, but $1650 sounds expensive. Is that the price you put it out on Craigslist at?
I'd try advertising it at $1350-$1400, do a sublet, and just eat the few hundred a month till your lease term ends.
ali r.
{downtown broker}
this isn't really correct. i do a fair share of ues rentals and an elevator building close to the train with outdoor space should trade around $1600-$1700. you will need a broker to move it though, posting sublets on craigslist won't work as there is too much ad traffic on the ues on criagslist and your ad will get buried.
I'm not a UES broker, but $1650 sounds expensive. Is that the price you put it out on Craigslist at?
I'd try advertising it at $1350-$1400, do a sublet, and just eat the few hundred a month till your lease term ends.
ali r.
{downtown broker}
Remember, if you rent it out, a month unrented is an asset that you can never recover. Price lower and get someone in more quickly.
I've never sublet but I can't see someone moving all their things into an apartment for 6 months; I've always thought that sublets were generally let furnished, no?
Best bet might be to try to rent to a qualified college student (with a guarantor) who only needs place to end of semester. $1,650 is on the high side, though, so you might need to come down.
For a lousy five months, subletting isn't worth the hassle. Your closing may be delayed past the end of the month, anyway, and staying put will let you do any work on the new place at leisure.
Tea700 did you find someone to sublet? Could you let us know as I know someone who needs a place for a few months when her apt is being renovated. This may fit the bill.
Thanks.
front_porch
about 8 weeks ago
ignore this person
report abuse I'm not a UES broker, but $1650 sounds expensive. Is that the price you put it out on Craigslist at?
I'd try advertising it at $1350-$1400, do a sublet, and just eat the few hundred a month till your lease term ends.
ali r.
{downtown broker}
this isn't really correct. i do a fair share of ues rentals and an elevator building close to the train with outdoor space should trade around $1600-$1700. you will need a broker to move it though, posting sublets on craigslist won't work as there is too much ad traffic on the ues on criagslist and your ad will get buried.