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Old 05-23-2015, 08:59 AM
 
457 posts, read 566,438 times
Reputation: 79

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Everyone I know uses their security as last month's rent and we all continue doing it and never have any issues.
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Old 05-23-2015, 09:09 AM
 
990 posts, read 1,257,506 times
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While moving out without paying the last month’s rent is a common practice in NYC, when the landlord holds a security deposit equal to a month’s rent, just be aware that doing so comes with a risk: if you move out without paying the last month’s rent, the landlord can still sue you in court for that unpaid rent.
Security deposits are not meant for the purpose of paying rent, and all REBNY stabilized and non-stabilized leases, as well as Blumberg leases (all three types of which comprise about 90-95% of all leases signed in NYC) specifically prohibit the usage of security in lieu of rent.
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Old 05-23-2015, 09:26 AM
 
Location: West Harlem
6,886 posts, read 7,822,965 times
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Quote:
Originally Posted by nyccs View Post
I dont believe that...seems too high, especially east Harlem. What do studios rent out for on average?
The affordability of Harlem broadly speaking is one of the most inexplicable and persistent fictions in recent real estate lore. Only East Harlem is consistently affordable at this point - given the neighborhood. You can check out listings on craigslist or streeteasy yourself.

East Harlem, Central Harlem, and West Harlem are very different areas. Respective live-ability is reflected in rents. East Harlem is definitely affordable. Central often as well although this is changing rapidly, probably given the number of luxury buildings that have sprung up and the relatively large number of restaurants that have opened on Lenox. I would not live east of the Park again but it is better than East Harlem proper.

Someone here was looking for studios, I did find some very affordable choices but I would guess they are quite tiny and who knows what other drawbacks are factored in. On lower Convent, there is a building with "studios" for $1,550 - $1,650 - last I heard. There was a news story on them. The reporter laid in the middle of the space and her arms and legs hits the walls on all sides. Hard to believe that all of these apartments were rented immediately. I do believe they have private bathrooms, which is something I suppose.

I am not renting and may be a bit out of the "loop" but I do know quite a few owners, and they are getting $2,100 or $2,300 for decent-ish one-bedroom units in decent-ish buildings, that is to say not on 'hood blocks. I recall that the school building had a few one-bedrooms for $1,900 - $2,000 at one point last year.

I was astounded that the owners of the Lionel Hampton Houses on St. Nicholas are listing one-bedroom units for around that. Definitely a 'hood block and one of the less desirable at that if you consider FDB a part of the direct neighborhood. Ditto 281 St. Nicholas .... People are ambitious, if also basically lacking a coherent vision beyond $$$$$.
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Old 05-23-2015, 09:35 AM
 
Location: West Harlem
6,886 posts, read 7,822,965 times
Reputation: 3000
Quote:
Originally Posted by NYCLotteryGurl View Post
Since you're in a luxury building, I'm sure the management company has lawyers in house on stand by. I think you should use your security deposit for 1 months rent and then just pay the remaining month 2 leave on good terms and move on with your life. Just pay the current month and leave at the end of the 2nd month which will come from your security. I know 2,100.00 is a lot and I feel like they're rude by forcing you to become a realtor and find a replacement tenant for them.
"Rude" ? "Become a realtor" ? What on earth are you talking about. Do you even know ?

This person signed a legal contract and is therefore liable to fulfill the terms of the contract. Both parties have legal responsibilities. The OP is fortunate that the management will accept a sublet to help meet his obligation - many won't, nor are they required to.
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Old 05-23-2015, 03:20 PM
 
457 posts, read 566,438 times
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When a LL/MC asks the current tenant to find a new tenant to take over the lease, is that not technically making the current tenant a "relator"?

What profession is it called when someone has to fill an empty apartment? The last time I checked, it was called "realtor".

With 2 months left, the LL/MC needs to stop being difficult.
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Old 05-23-2015, 05:11 PM
 
18,235 posts, read 11,645,412 times
Reputation: 11847
Quote:
Originally Posted by berniekosar19 View Post
While moving out without paying the last month’s rent is a common practice in NYC, when the landlord holds a security deposit equal to a month’s rent, just be aware that doing so comes with a risk: if you move out without paying the last month’s rent, the landlord can still sue you in court for that unpaid rent.
Security deposits are not meant for the purpose of paying rent, and all REBNY stabilized and non-stabilized leases, as well as Blumberg leases (all three types of which comprise about 90-95% of all leases signed in NYC) specifically prohibit the usage of security in lieu of rent.
And I thank you for saying this....

Just because it has grown to become some sort of common street lore in NYC, no you are not supposed to use a security deposit to pay final months rent. Do tenants do so? Yes, and most feel considering the hassle many LL's often put them through to get back their deposit they are justified, but as noted above you are playing a dangerous game legally.
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Old 05-23-2015, 07:51 PM
 
147 posts, read 135,654 times
Reputation: 90
Quote:
Originally Posted by NYCLotteryGurl View Post
I'm not a LL. I'm just a civilized human being that knows right from wrong. I get no joy from trashing a place that I live in. I'm a LL dream tenant.

Only a werewolf or some savage would wreck their own apartment.
Thats what they all say, till they are late on their rent, than stop paying rent.
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Old 05-23-2015, 08:18 PM
 
1,975 posts, read 1,234,875 times
Reputation: 1182
I have gotten away with using security deposit as last month rent mainly because the landlord needs a favor from me to permit access to the apartment during the last month for viewing to potential tenants. By the time my contract expires the landlord already has a new tenant waiting to move in, so there is no justifiable reason for the landlord to go after my security deposit. Normally the landlord already has a working relationship with a real estate agent who schedules all the viewing of the apartment to potential tenants.
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Old 06-17-2015, 09:54 AM
 
Location: Brooklyn
1 posts, read 284 times
Reputation: 10
HI, I would like to explore the possibility of taking over this apartment, I can be contacted at 646 204 9520 and we can schedule something if its still available
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Old 06-17-2015, 10:50 AM
 
2,721 posts, read 2,144,525 times
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I am almost envious of someone who just goes through life playing by their own rules, and thinking they are right and valid in their own mind.

1) Regardless of what your friends do, you can not use your security deposit as last month rent without permission. If this is a luxury management company, this is likely even written in the lease.

2) Fulfilling a lease is a legal obligation. Yes, people do go through life making decisions based on legal obligations they must fulfill. See, things like this are a zero sum game - life doesn't simply revolve around you. If you just decide to pick up and leave with two months left, the landlord loses money. Perhaps you don't care about that.

Quote:
Originally Posted by NYCLotteryGurl View Post
Only an individual with no morals and values would ruin a home they live in. I'm not one of them.

I understand it's a binding contract. People dont wait for their leases to expire to buy a house, get married or have kids. If a couple gets married, live in a 1 bedroom and would like to raise their child in a larger apartment like 2 or 3 bedroom or a house, they have the right to. They don't wait till the kid grows a year or 2 to fulfill their lease obligations.

I totally understand where you are coming from with the binding contracts, but like a contract, the word "exceptions" exist and therefore exceptions should be made and granted based on circumstances that arise.

With you saying that " would you ever expect a LL to understand" is just a clear indication of how backwards the world is and that LL and management companies do nothing but take advantage of the weak because we all know at the end of the day, people need shelter and a roof over their heads. Lousy LL and management companies just bank and revel in the fact that a tenant won't leave because it's the hardest thing to constantly pack and move heavy furniture and it's exhausting. Nobody gets any pleasure from constantly having to move.

It's that age old saying "the strong do what they can, and the weak suffer what they must". The weak being tenants who get taken advantage of.

By the way, almost all my friends use their security on last month's rent. No LL or management company has ever said anything. They actually prefer that because the LL/MC already spent the deposit ages ago when the lease was signed. They have no time to run around and try to produce money they already spent or aren't willing to return.

Have a good Memorial Day weekend!
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