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Old 05-29-2015, 10:22 AM
 
1 posts, read 506 times
Reputation: 10

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Three of my roommates and I have been living in an apartment in NYC for the past two years. We are trying to renew our lease but the people on the lease are changing. The person whose parents were the guarantors is leaving, leaving us without a guarantor. Upon asking my landlord if it were okay to redo the lease and change names around I was told that our lease is over if the guarantor leaves and that we will not be able to renew - essentially kicking us out. The four of us, who want to renew are making approximately 74 x the monthly rent per year. I am staying on the lease and we have never missed a payment or made a late payment. Is it legal for them to do this to us? And is there nothing we can do? They also want 1 guarantor making 70x the monthly rent and said they will not consider several guarantors. I just feel like they are trying to push us out to hike the rent for new tenants.

Thanks!
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Old 05-29-2015, 11:44 AM
 
2,853 posts, read 6,262,136 times
Reputation: 1636
Quote:
Originally Posted by ilyauts View Post
Three of my roommates and I have been living in an apartment in NYC for the past two years. We are trying to renew our lease but the people on the lease are changing. The person whose parents were the guarantors is leaving, leaving us without a guarantor. Upon asking my landlord if it were okay to redo the lease and change names around I was told that our lease is over if the guarantor leaves and that we will not be able to renew - essentially kicking us out. The four of us, who want to renew are making approximately 74 x the monthly rent per year. I am staying on the lease and we have never missed a payment or made a late payment. Is it legal for them to do this to us? And is there nothing we can do? They also want 1 guarantor making 70x the monthly rent and said they will not consider several guarantors. I just feel like they are trying to push us out to hike the rent for new tenants.

Thanks!

Do not one of you or the other roommates have a parent that would be the new guarantor?
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Old 05-29-2015, 12:13 PM
 
9,973 posts, read 8,467,024 times
Reputation: 5855
Assuming this is a free market rental, yes, the LL can unilaterally decide not to renew, and you have no real recourse.
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Old 05-29-2015, 12:15 PM
 
Location: NYC
363 posts, read 247,620 times
Reputation: 771
You can't find anyone else to sign on as guarantor? If you guys don't have any problems paying the rent and have never been late it looks like you just need someone to sign on just for appearances basically.
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Old 05-30-2015, 07:56 AM
 
Location: Manhattan
20,182 posts, read 26,480,657 times
Reputation: 9054
Quote:
I just feel like they are trying to push us out to hike the rent for new
tenants.
That's not likely. In a market rate rental, they can raise the rent to any level at any end of lease regardless of how long you have been in residence.

Is it indeed a market rate apartment? That makes all the difference.
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Old 05-30-2015, 08:10 AM
 
880 posts, read 531,808 times
Reputation: 1122
I don't think they want you out just to raise your rent assuming your apartment is a free market apartment. I think the Landlord just trying to mitigate their risk by having some type of collateral and someone to go after (the guarantor) in the event you don't pay your rent.

As the saying goes, you can't get blood out of a stone. So if the LL doesn't have a guarantor and you guys default with practically scraps in your bank account, collecting will be harder to do and take much longer.
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Old 05-30-2015, 10:05 AM
 
10,637 posts, read 20,778,169 times
Reputation: 8174
I don't think you have any recourse. If it's market rate and not rent-stabilized, then the LL can do whatever he/she wants regarding not renewing the lease.

Even though the income from the 4 of you adds up to 74x the monthly rent per year, I can understand that the LL's viewpoint is that a 4-roommate situation could be precarious. If the rent doesn't get paid, he would then have 4 people to sue. One guarantor is much easier to deal with for the LL.

With the occupancy rate so low in NYC, the LL's can choose what kind of situation they want to deal with. And they don't want to deal with yours. So looks like you are just out of luck.
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