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New York City Subletting and maybe leaving early?
June 16, 2014 10:44 AM   Subscribe

What is an appropriate agreement to buy out an NYC apartment sublease in order to leave before it is through?

We are currently trying to find a sublet to occupy for a few months while we close on a co-op and make some minor renovations.

If we sign up for a six month sublet, what would be a fair buy-out provision, assuming the person renting us the apartment would agree to it in the first place? If we're ready to leave in October and the lease is through December, we want to give the landlord an incentive to let us leave early.

We were thinking along the lines of "half the remaining months' rent in cash" but I don't know if that is too much or too little to offer.
posted by Blisterlips to Home & Garden (1 answer total) 2 users marked this as a favorite
 
What is fair is what is mutually agreeable to both sides of the transaction. So, "half the remaining months' rent in cash" is fair if you can get the landlord to agree to it.

But what's the landlord's incentive here? NYC's rental market is tight and landlords are dictating terms. Have you looked into short-term corporate housing?
posted by dfriedman at 11:07 AM on June 16 [2 favorites]


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