You had to look on multiple websites in order to find temporary housing, or ask every landlord if they would allow furnished short term rentals (95% said no). To landlords, furnished short term rentals (temporary housing) are just too risky.īefore Leasebreak hit the scene in 2013, furnished short term rentals were also very difficult to find because there was no one place people could go to see the thousands of available furnished short term rentals at any given time. Landlords would rather have longer term leases, and as long as the vacancy rates in NYC remain low, landlords have the leverage to dictate the terms. The reason furnished short term rentals are so hard to obtain is because temporary housing makes up a very small percentage of available NYC apartments. Getting a furnished short term rental in NYC is not easy as you may think, although Leasebreak makes it much easier. Just post your listing on Leasebreak and wait for the traffic to roll in. Whether you are trying to find a renter to help you break your lease, take over your lease, or sublet from you, we are here to help you. A big disadvantage to this approach is that you are still on the hook financially until the end of the lease. Basically a sublet means that you are still responsible for the monthly rental payments to the landlord, and the incoming tenant will be paying the rent to you directly. We explain the term above under the topic “NYC Furnished Sublets” so we won’t go into much detail here. As with the “leasebreak” approach, a benefit of this approach is that you would have no more financial obligations on this lease.Ī “Sublet”: The term “Sublet” is often thrown around a lot. That is, you would be assigning the remaining months left on your lease obligation to a new renter. Under this scenario, you would be “assigning your lease” to a new tenant. When you hear the term “taking over my lease”, a lease assignment is usually the situation. A huge benefit of this approach is that you are no longer on the hook for any remaining lease payments.Ī “Lease Assignment”: Lease assignments are very common. Under this scenario you would be signing a lease termination letter, and you and your landlord will be finding a new 12 month renter and signing a brand new lease contract with them. You are essentially "tearing up" the lease obligation. Check with your landlord to see which one or ones they prefer:Ī “Leasebreak”: Well, technically a true “leasebreak” means that you are breaking your lease. There are three ways you can break your lease obligation. This is because the landlord can possibly get more rent from a new tenant if you are to leave your lease early. This can usually be accomplished, especially in an environment where rental prices are rising.
Ultimately, most landlords are okay with you leaving your lease early as long as they don’t have to come out of pocket financially. Why? The legal approach is expensive, messy, and often does not get you the desired results anyway. Even landlord-tenant attorneys will suggest you do this. There are many reasons why you would want to break your lease and get out of your lease obligation early: getting a new job, expanding your family, losing your job, getting married, etc.įirst, if you are going to try to get out of your lease early, we highly suggest you reach out to your landlord first. One more added bonus, renting a studio requires far less cleaning due to the smaller square footage.ĭepending on the location and amenities you're looking for, your rent can range from 2095 to 2095.What does breaking your lease really mean, and how does one break their lease? Well, the concept of “breaking my lease” has to do with ending your lease obligation earlier than what is stated in your lease contract. Some landlords offer studio apartments with all utilities included in the flat, monthly rent, an extra financial benefit. Not only is it cheaper to rent a studio apartment than a one bedroom, but you also save on utilities and electricity due to the smaller living space. Studios apartments are ideal as an economical option. Add storage space by installing a makeshift closet, floating shelves and under-bed containers, or invest in multipurpose furniture such as ottomans or coffee tables with hidden storage. If your prospective studio lacks storage, get creative. Closets and cabinets help your studio feel more organized and spacious, avoiding a cramped or claustrophobic environment. When shopping for a studio, look for a unit with ample storage space. A studio typically consists of one bathroom and a main room that serves as the living room, bedroom and kitchen. Studio apartments are an excellent choice if you don't have many possessions or if you're planning to live alone.
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