Is this suspicious? Apartment w/commercial lease
Started by edormaman
over 4 years ago
Posts: 0
Member since: May 2021
Discussion about
I'm considering a rental apartment in Manhattan, but the landlord only wants to rent it on a commercial lease instead of a normal residential one. Any tips of what I should watch out for here? From what I can gather, the downsides for me could be: - I'm not protected by NYC tenant laws (not sure if I care) - Lease could specify I'm on the hook for maintenance - It might be easier to kick me out - Rent increases could be greater than the max allowed under a residential agreement Thoughts?
Where is the unit? Is it a ground floor on a narrow street? Does it look like it used to be a retail space?Maybe the commercial use is non-conforming but is grandfathered which requires continued use and if there is a vacancy, then the vacancy cannot last longer than two years. Otherwise the space reverts to the conforming use. A commercial lease could be used to substantiate the continued non-conforming use.
it happens, but (while I'm not an attorney, and this isn't legal advice) I'd be worried about insurance. you sign a commercial lease, you move in, there's a fire ... who pays for your burned stuff?
ali r.
{upstairs realty}
I did this many years ago in Calif. The utility rates wound up being much higher because the space was not considered residential.