Posted by James S. on December 02, 1997 at 15:49:34:
In the interest of time, I will try to be brief. I moved into a rent-stabilized studio on Nov. 1. The studio is great- an excellent building ideally located on the Upper East Side at a reasonable rent. Unfortunately I did pay the typical broker's fee to get the apartment.
On Nov. 25, I was offered and accepted new employment in CT (too far to commute daily) and my new employer unwilling to pay the fees associated with leaving my new studio. Naturally, I would like to exit my apartment sometime in the next 2-3 months, and of course before the lease ends in next Nov. Upon reviewing the lease documents, a rider to lease (prepared by the landlord) states that if the landlord choses to absolve me from my lease commitments, I will be required to pay a fee (for repainting, repairs & other) of $500 plus forfeit my security deposit. As expected, I am reluctant to simply write off these two costs in addition to the broker's fee. Would I be better off attempting to sublet the apartment and/or assigning the lease to a new tenant? Giving the strong rental market and quality of the studio, it shouldn't be a problem finding a new tenant. However, I am not familiar with the procedures involved with subletting or assigning. Is there any advantage to notifying the broker who rented me the apartment that I may sublet, assign, or leave?
I thank you in advance for your assistance.
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