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FAQs

What does sublease mean? ›

A sublease is the re-renting of property by an existing tenant to a new third party for a portion of the tenant's existing lease contract. The sublease agreement may also be called a sublet.

Sublet Websites: Utilize online platforms dedicated to sublets, such as June Homes, Leasebreak, Gypsy Housing, Sublet.com, and SpareRoom. Local Newspapers and Community Boards: Check sublet listings in local newspapers, community boards, or online marketplaces.

About us. We build a platform that helps people find flexible, affordable housing and connect with roommates who make the big borough like Brooklyn feel like home to some from a small town. Website https://www.facebook.com/gypsyhousing. External link for Gypsy Housing.

Depending on how your property management company reports the data, it may appear on your credit report. So, it's important that you are mindful of the lease agreement conditions. Leaving your studio without providing advance notice, finding a subletter or making similar arrangements could affect your credit history.

A sublease is a new contract between the lessee and the sublessee. The original lessee turns into a sublessor in this new contract. There is no privity of contract under the sublease between the owner of the property and the sublessee. The original lessee still has the responsibility to fulfill the lease obligations.

New York City law allows market-rate and rent-stabilized tenants to sublet their apartments if they live in a building with four or more units. New York City law does not allow tenants that live in multiple dwellings (3 apartments or more) to sublet apartments for less than thirty days.

All renters are entitled to sublet their apartment. Under the law a landlord cannot unreasonably withhold the right to sublet. However, the landlord can refuse to sublet with good reason. If you want to sublet your space, you must inform your landlord and give them a 30-day notice.

Month to Month Tenants

Renters who do not have leases and pay rent on a monthly basis are called “month-to-month” tenants. In localities without rent regulation, tenants who stay past the end of a lease are treated as month-to-month tenants if the landlord accepts their rent (Real Property Law § 232-c).

RAD shifts the federal funding source used to support the operations and maintenance of apartments in a development from federal Public Housing funding to a special Housing Choice Voucher Program funding.

Low-Income Housing

Provides rent subsidized housing for those who meet HUD's Section 8 eligibility requirements. Tenants' rent is 30% of their monthly gross income. Due to long waiting lists, priority is given to individuals and families applying from shelters and other agencies.

What is Section 9 housing NYC? ›

Currently, NYCHA's buildings are funded with Section 9 subsidies from HUD (Section 9 refers to Section 9 of the U.S. Housing Act of 1937, which established a federal funding system for public housing).

While leasing and renting share many similarities, there are some subtle distinctions between the two. The main difference is the length of tenancy. A rental agreement is usually short term or month-to-month, while a lease is typically for a longer period of time, usually six months or more.

Unlike an assignment, a sublease only turns over part of a property. That means that the original tenant shares the rights and responsibilities to the premises. A sublease may be preferable for tenants who wish to lease out part of their property to another company for the remainder of the lease term.

Before subletting your apartment, you must notify your landlord and provide them with a 30-day notice. Under New York law, landlords cannot unreasonably withhold the right to sublet. However, they can refuse to sublet with a valid reason, such as concerns about the proposed subtenant's financial stability.

No subletting clause samples

04. No Subletting. Lessee shall not sublet any or all of the Properties without the prior written consent of Lessor, which consent shall not be unreasonably withheld, conditioned or delayed.