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First time poster here....some background...sold our apt in Queens a couple of months ago (got an offer we couldnt refuse!) so now feel under the gun to buy something quick. Likely Long Island but really, the inventory we are seeing either gets snapped up immediately or simply isnt anything desirable. Id rather not purchase something simply to purchase something given the time frame.
Curious, have others been in a similar situation? (I know the answer is yes!) Wondering what options are out there? Are there rental units in Queens that allow tenants to rent month to month? Id rather not sign a year lease given we could find something within the year and then figure it ends up costing us a months rent/security simply to break out of the lease.
Hoping to hear some similar stories/opinions and or thoughts on how others similar situations ended up panning out...thanks all!
You should look for a sublet with an option for month to month after the lease is up. Many people are looking to get out of their leases and would transfer one over.
If you want to rent month to month then your only option might be to sublet. No landlord is going to give you a month to month lease unless you are willing to give them an exorbitant amount of money.
Do you have any family you can stay for for a little while? If not then you might have to rent an apartment with a 1 year lease and start looking. This will give you enough time to find a new place and not be under pressure to move. Once you found your new home and are under contract you then break the lease. Give your landlord a month notice and start packing. I'm sure it will ruffle a few feathers and you might loose out on your security deposit but its better than being homeless.
Whatever you do, DO NOT pressure yourself into buying a house. I know a lot of people that made this mistake and are regretting it today. Use the Spring/Summer to look at houses. More houses come on the market now so you will seeing more and more inventory in the upcoming months.
Good luck.
Interesting...never thought about that! any ideas where I could look into something like that?
But now that i am thinking about that, wouldnt you just ultimately end up in the same situation aftern the sublet is over? So sublet ends..i would assume if the person is looking to get out of the lease, that means the apt they sublet to you only allows contracts for a year and not month to month
Look for an apartment in a apartment building. Back in the dark ages when we bought our first house, we re-signed a lease even though we were intently looking for a house. Wouldn't you know it, literally a month after signing we found our house. We broke the lease. Under the law, they cannot hold you to your lease unless they can't find another tenant. An apartment complex can ALWAYS find another tenant, and are probably more likely to comply with the law. We got our security back and everything.
If you are a picky buyer it will take you at least 3-6 months to choose. And then another 3 months to close...you are probably ok with a year lease and breaking it.
twingles, thats interesting...wonder if still true given there are quite a few apt buildings in my area (live in Forest Hills/Rego Park area)
Pacer, problem really is if it doesnt get timed perfectly, you are out the security and possibly last months rent. dont they ask for two months rent + security up front in many of these buildings/apartments?
It sounds like you aren't ready to commit to buying yet. In the 2 months since you sold you haven't been able to find anything?? Have you looked at finding a rental in an area you like on LI? I think renting on LI before you buy would be a great idea since you seem unsure of moving here. There aren't a ton of rentals available but they *are* out there (though you will probably have an easier time finding a house to rent than an apartment).
Edited to add that you might have to commit to renting a house for a year- but that's not a bad thing since it'll give you lots of time to scope out various neighborhoods and decide exactly where you want to live. A year in the long run is nothing!! Though you never know- I know 2 families renting entire houses and they are both month to month.
twingles, thats interesting...wonder if still true given there are quite a few apt buildings in my area (live in Forest Hills/Rego Park area)
Pacer, problem really is if it doesnt get timed perfectly, you are out the security and possibly last months rent. dont they ask for two months rent + security up front in many of these buildings/apartments?
What "they ask for" is not as important as what you are able to negotiate for. If you're a desirable tenant with good credit and good references don't be afraid of a one year lease but get them to allow a 45 or 60 day cancellation without penalty after a few months.
Monkey..i see you lurking aorund here and believe it took you years to settle into the neighborhood and a home, correct? Where did you end up settling? (that is, if you have ;-) )
I dont think 2 months is a long period of time at all! We obv arent going to settle for something just because its going to make things easier on us in the short term. we actually got a really great offer at a time we hadnt planned on selling so took it and here we are...no looking back!
one of my kids is in a prek that she loves (hes only 3) so really, renting where we are for another year isnt a bad thing as she would get to go back there for another year while we look. I know LI fairly well but yes, there is some uncertainty. Both my wife and I work but our schedules differ...shed go in later than i would so parking at the train station seems to be an issue. since we both work in the city, we really are limited to how far we can go out. Syosset, perhaps Bethpage seems likely as nothing west of there seems desireable or offers anying but 40sx80 lots of property! if anyone has suggesstions on places west in nassau county, would love to hear those.
ive already begun looking into the sublet option which might end up the way to go...we shall see what happens.
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