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Re: Incorrect ...not quite...

Posted by don on October 19, 2001 at 20:15:16:

In Reply to: Incorrect ... posted by Provost on October 19, 2001 at 19:54:24:

A rent stabilized lease is GOLD if you want to live permently in NYC....

What other kind of lease literally guaruntees your renewal for life?

So before you give one up, assuming it is still a reasonable price, sublet for the rest of the term, and in case something screws up, or you want to come back to live in the still have an option..Because Once you give it up, I dont think you will ever get an apartment again at that low price.

But you do have to pick your subtenants very carefully.........

and if your rent is really low Under $1000 or even $750, you might be able to get the LL to give you some money for tendering the lease.

:::::::::: A rent stabilized lease is not "gold," like any other lease, it is an obligation to pay monthly rent! Yes if you're moving away you can sublet (for up to 2 years), but you are still obligated to pay rent, and you cannot charge the sub-tenant any more than you pay. Essentially you're turning yourself into a landlord with all the responsibilities and none of the benefits.

: The real question in this case seems to be return of the security deposit. The answer? Ask the landlord to write you a letter releasing you from the lease on whatever date you intend to move. Lease formally over, security deposit must be returned, less any charges for damages.

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