Are you looking for a short term rental nyc? When some people look for a short term rental they are really looking to find an apartment that they can rent for a couple of months. Sometimes it is worth looking for a Sublet in Nyc. The difference between a sublet and a short term rental is that a sublet you are renting an apartment from someone else who is renting an apartment. Whereas when you rent a short term rental usually you are renting directly from an owner. There are advantages and disadvantages to subletting in new york city.
Advantages to Subletting.
1. Short Term Leasing – When you are subletting in nyc you dont need to rent for 12 months which is usually the standard. When you rent a sublet you are able to rent for a certain amount of months without having a huge commitment to anything.
2. Lease Renewal Options
Most landlords are willing to work out a new lease agreement with you if you reach the end of the sublet term and want to stay. This could mean big savings. For example, while I was living in my sublet, the cost of renting in the area went up from $1000 a month to $1200 a month. However, since I had been a good tenant, the landlord offered me a new lease for the same $1000 rate I was paying before. I could have saved $2400 by signing another 12-month lease.
3. Price of rent increases
The landlord cannot legally raise the rent while you’re under the sublet agreement, but if you decide to sign a full lease, the landlord has the right to up the rent. For example, if the landlord asks for a $50 a month increase, that will cost you $600 over the course of a 12-month lease.
Disadvantages to Subletting 1. Upfront Fees – When you get a sublet in nyc you have to pay upfront fees in order to be able to get the apartment. Usually you are not able to pay for the full rent up front. The landlords will usually charge you a security deposit, first month, and last months rent as well as a $200 to a $300 application fee. 2. Set amount of months: Usually is the the person you are subletting the apartment from is not the landlord they will have a set amount of months that they are renting it for. Here is an Example : They would only rent t for 4 months because they will be away for those 4 months. Where if you were to rent from a landlord then they can grant you as many months as you please.