Lease transfer of 130% AMI apartment (sublet, gated, income)

[Tapanzee]

Has anyone successfully navigated a lease transfer of a 130% AMI apartment? Assuming you found someone who also met the income requirement and was able to submit the required documentation, were you able to transfer the lease to that other person rather than breaking it?

Or is there no option for a lease transfer (since essentially that would be bypassing the waitlist)?

Asking because I'd appreciate a way to avoid the heavy lease break penalty.

Thank you

[Marshabrady]

Originally Posted by Tapanzee

Has anyone successfully navigated a lease transfer of a 130% AMI apartment? Assuming you found someone who also met the income requirement and was able to submit the required documentation, were you able to transfer the lease to that other person rather than breaking it?

Or is there essentially no option for a lease transfer (since essentially that would be bypassing the waitlist)?

Asking because I'd appreciate a way to avoid the heavy lease break penalty.

Thank you

First - check what your lease says, if it doesn't allow lease transfers, ask your building management, perhaps they will be lenient. Mine was not.

They did not allow lease breaks or transfers. My options: sublet the apt (given that I was moving to another lottery apt and can only have one primary residence) this was also not an option).

2nd option: "Abandon" the apartment, once I turned in the keys, I emailed management that I was giving up all rights to the apartment, that allowed them to look for a replacement using their existing waitlist. Before doing this, I confirmed they had an existing/active waitlist.

Thankfully it worked out and I only paid a month and a half's rent.

At this point, I was at the 200% AMI but I don't it would have made a difference.