When you move into a new place, sometimes unforeseen events spring up that require you to leave for an extended period of time. In those circumstances, you need someone to not only handle the rents in your short term rental apartment, but also to be physically there to take care of your residence in your absence. If you’re looking for a solution of how to avoid breaking your lease while still being able to afford rent, you should consider subletting your apartment when you’re away.
Similarly, if you intend to stay in NYC for a short period of time, you should look to sublet a furnished apartment in NYC. Even if just on an extended vacation, vacation apartment rentals in NYC can come at a high cost, but subletting is a cost-effective way to stay in the city.
The dictionary definition of subletting is to rent your rented residence to another tenant – pretty simple, right? Not entirely, though, because there is a system to subletting in NYC that you need to understand before getting involved either as the one leasing your apartment or looking for one as a temporary tenant.
Pros of Subletting
One of the biggest advantages of subletting in NYC is that you don’t have to completely leave your apartment and discontinue the lease. In fact, unlike normal renting, you can come back after a fixed, short period (usually a few months) of time, and get it back from the new tenant. Also, with average rent in NYC reaching over $3,400 in 2016, it’s likely you simply can’t afford to leave your apartment vacant while still paying rent.
Other general benefits include a physical presence of a tenant while you’re away that can help protect your apartment from robbery and other dangers associated with leaving a home empty. A new tenant may also keep the apartment fresh and clean in your absence, and keep you constantly updated of the activity around your apartment.
For a tenant, a sublet in NYC could mean a chance for savings. New lease renewal agreements can be signed by landlords after a fixed sublet term ends. If you’re subletting your short term rental in NYC, though, the landlord cannot legally increase the rent of your apartment unless a full lease agreement is signed. Additionally, a fully furnished sublet in NYC saves you the money and energy that comes with decorating an entire home or bedroom.
Cons of Subletting
While a physical presence in your apartment while you’re away has its benefits, it could also be a disadvantage. The new tenant could damage your property or steal items, forcing you to take legal action. Screen sublet tenants well before allowing the to move-in, and get to know them better. Use your best judgement on who a respectful tenant would be to take over your space for the short term.
From the tenant perspective, a sublet in NYC requires an assortment of up-front fees. If you’re on a tight budget, you might not be able to pay the full fees. It is important to understand exactly what the fees are, and what the precise amount is so you have all the necessary knowledge at your disposal when making a decision. Furthermore, the current landlord might also charge you application and security fees that could add up to exorbitant amounts. Avoid landlord issues by subletting directly from the current tenant or by enlisting a service that vouches for the landlord’s credibility.
How We Can Help
Short Term Rentals NYC helps both prospective tenants and those looking to rent out their space. For people looking to sublet in NYC, we provide a series of specifications that allows them to search by budget, neighborhood, and a variety of other amenities. Then, we match you with the perfect short term apartment rental that has been vouched for, ensuring a safe transaction on both ends. Additionally, all sub-letted apartments come fully-furnished, and with extensive background checks conducted on the landlords.
For current tenants looking to rent out their apartments for a short period of time, our listing service provides the most time-effective and easy-to-understand means of listing your apartment. We’ll be available to help with our expert customer support every step of the way in case you run into any trouble while getting connected with interested tenants.