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I have been living in a lottery building for a little more than a year with highest ami. The area is not nice at all and market rates are just $500 more than I’m paying it doesn’t have much amenities as well.the lottery rent is pretty high for the area. They were having hard time finding tenants, a lot of people were rejecting since they don’t even have lower amis. Now I’m on a final stage for another lottery in a building in a better area and ami is same. Hopefully it will work out for me. I asked the management if I have a possibility to cancel my lease and they said I can sublet it and I’m still will be responsible for the lease. Has anyone face anything like this? Of course I will sublet for the same I pay and also will find someone within income limits which is thankfully high and I might have success finding someone.
I had no issue terminating my previous lottery lease early with 1 month notice when I won my current lottery apt. I did not try to sublease as I didn't need the hassle. I got the mgnt's policy in writing (allowing the 1 month notice), gave notice once I had signed a lease on the new place, paid that final month's rent, moved as scheduled into my new place, and scheduled the move-out inspection with the old place and got my full security back.
If you don't want to deal with subletting, just ask what their policy is for terminating the lease early, how much notice will be needed, what if any fees or extra rent are needed, will you get your security back etc. Get the policy in writing so you have it when you need to use it. Good luck!
Sunny, technically you cannot have two lottery apartments at the same time. Each one will need to be your "primary residence." When you win a lottery, you are required to surrender any current lease you have.
So as far as I can see, you will not be able to sublet your current apartment (which means the lease is still in your name), and sign a lease for your new building. You can "assign" the old lease, though, which means the person you are assigning it to is taking it over completely and your name will no longer be on it.
The new tenant law made it somewhat easier for tenants to get out of leases because landlords are required to look for someone new. EDITED: Please see below. If I can find a citation for that, I will post it. In the meantime, I suggest you research that and go back to your landlord with some idea of what he's obligated to do under the law.
NEW INFO: According to this link, which has some helpful info, the new law does not require landlords to look for a new tenant, which means I am mistaken. Here's the link:
Those are justifiable reasons to terminate the lease. However if you terminate the lease for an unjustifiable reason, you are on the hook for the remainder of the payment. HOWEVER in NYC ”If you leave your apartment or other rental home before your lease ends, your landlord must make a good-faith effort to fill the vacancy.
If the landlord finds a new tenant and the new tenant’s rent is equal or higher to your rent, your lease is considered terminated and you are no longer liable for the rent.”
I had no issue terminating my previous lottery lease early with 1 month notice when I won my current lottery apt. I did not try to sublease as I didn't need the hassle. I got the mgnt's policy in writing (allowing the 1 month notice), gave notice once I had signed a lease on the new place, paid that final month's rent, moved as scheduled into my new place, and scheduled the move-out inspection with the old place and got my full security back.
If you don't want to deal with subletting, just ask what their policy is for terminating the lease early, how much notice will be needed, what if any fees or extra rent are needed, will you get your security back etc. Get the policy in writing so you have it when you need to use it. Good luck!
Thank you for this. Im currently in the middle of the process of possibly getting a different apartment (via lottery), and if so, I'd still have about 5 months left on the lease of the one I'm in now. The rent is super cheap, so I'm crossing my fingers they won't make a big fuss. I'm definitely going to inquire though so it can be as seamless as possible
Thank you for this. Im currently in the middle of the process of possibly getting a different apartment (via lottery), and if so, I'd still have about 5 months left on the lease of the one I'm in now. The rent is super cheap, so I'm crossing my fingers they won't make a big fuss. I'm definitely going to inquire though so it can be as seamless as possible
Great! Yeah, I had a similar situation as I was leaving a 60% AMI lotto unit for a 130% (fair but gulp at that rent increase!). I'm sure they will have no problems re-renting my old unit. Even still, each landlord/management will have different terms. Just let them know of your plans and ask what their policy is and be sure to get it in writing. Hopefully it will be smooth.
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