2019 Rent Reform Law / Damage Mitigation
Started by Anonymouse
over 4 years ago
Posts: 180
Member since: Jun 2017
Discussion about
Has anyone experieced this recent law in practice? https://caretaker.com/learn/breaking-a-lease-early/mitigating-damages-in-new-york#:~:text=Landlords%20in%20New%20York%20are,any%20remaining%20rent%20going%20forward. Seems to be tenant friendly? A tenant can find a replacement tenant (which I imagine means good credit, high income and similar/better situated family situation) and practically... [more]
Has anyone experieced this recent law in practice? https://caretaker.com/learn/breaking-a-lease-early/mitigating-damages-in-new-york#:~:text=Landlords%20in%20New%20York%20are,any%20remaining%20rent%20going%20forward. Seems to be tenant friendly? A tenant can find a replacement tenant (which I imagine means good credit, high income and similar/better situated family situation) and practically assign the lease over (or walk away from their current lease claiming the landlord acted in bad faith). I imagine the biggest obstacle here is to find someone to take over an odd-period lease (so landlords will be even more reluctant to enter into longterm leases?). Maybe this creates incentives for landlords to allow for reasonable lease break clauses in leases (e.g., 2 months vs. all rent on the remaining lease). [less]