WHAT IS A SUBLET?

In real estate law, sublease (or, less formally, sublet) is the name given to an arrangement in which the lessee in a lease assigns the lease to a third party, thereby making the old lessee the sublessor, and the new lessee the sublessee, or subtenant. This means you are renting and renting out the same property at the same time. For example, the owner of an office building may lease the whole building to a management company. This company may then sublease parts of the building to other people. The management company is said to sublet the property to the individual tenants by means of a sublease. In this event, the management company (which was previously the lessee under the original lease) becomes the sublessor, and the individual tenants are subtenants or sublesses.

Sublessor remains liable to the original lessor for any damage to the property and for payment of rent. Often the original lessee requires a lower rent payment from the sublessee than what he or she may have originally paid, leaving a partial amount of the rent left up to the original lessee.

 

NYC SUBLETS

People looking for a temporary apartment in New York, often refer to these apartments as "sublets", which implies that a person  that has a long term lease in an apartment, subleases their apartment for a short period of time. This is very common in Manhattan since  rentals  are very pricey, compared to other States. Then a sublet is a great option for both parties. The person living in New York City can sublet his/her apartment for the time he/she will be away and be able to cover the rent expense in the meantime. The person coming to temporarily to the city then will sublet that apartment at the "unfurnished" rate  and will enjoy the city as a local.

Unfortunately, not all people are responsible or reliable hosts and you may find problems after moving to the apartment. One of the most common problems is that the sublet may have been done  without the building owner's consent. Another important point to take into consideration is that you are in someone else's home, therefore, you will need to adjust to the leftover closet space,  maybe some of their  personal things around and/or  missing furniture/electronics that you would normally have in your house.  

If  someone else's apartment is not your preferred way to stay in NYC for a month or longer, then you will be happy to work with us! All apartments we offer are furnished and equipped specially for this purpose.