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Old 01-13-2008, 06:43 AM
 
4,502 posts, read 13,470,736 times
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Okay, so a friend of mine has a rent stabilized apartment in a nice part of Manhattan. She's only paying about $1200/mo for a large 2BR place.
She is currently in the process of buying a condo, but doesn't want to give up the rent stabilized apartment (simply b/c it's such a great deal) and she has offered to rent it to me (at the same $1200).

It's in a large building and there's no doorman and the maintenance people work for an outside company so there are different ones all the time so she thinks there's little chance of getting caught.

This would be a huge move for me and, of course, I have reservations about it. If we DO get caught, I'm out on the street with nowhere to go. If we DON'T get caught, I can have a nice apartment and pay less rent.

Any opinions????
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Old 01-13-2008, 06:56 AM
 
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what does it say in her lease, does the tenant of record have to live there or can someone else? is there a security camera in the bldg? if you need a repair or there is an issue with needing a new stove, refrig, etc, it's not you who can make the request in writing, it's the tenant of record, if you do something and the neighbors complain(not saying you will) they will track down the tenant of record and ask questions. things like that
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Old 01-13-2008, 07:01 AM
 
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The tenant of record is supposed to be living there for the rent to remain as is. You need to be careful, because if there's a live-in super, he might certainly take note and report it to the landlord (who, after all, pays his salary)....
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Old 01-13-2008, 08:09 AM
 
Location: Atlantic Highlands NJ/Ponte Vedra FL/NYC
2,689 posts, read 3,966,413 times
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Quote:
Originally Posted by omigawd View Post
Okay, so a friend of mine has a rent stabilized apartment in a nice part of Manhattan. She's only paying about $1200/mo for a large 2BR place.
She is currently in the process of buying a condo, but doesn't want to give up the rent stabilized apartment (simply b/c it's such a great deal) and she has offered to rent it to me (at the same $1200).

It's in a large building and there's no doorman and the maintenance people work for an outside company so there are different ones all the time so she thinks there's little chance of getting caught.

This would be a huge move for me and, of course, I have reservations about it. If we DO get caught, I'm out on the street with nowhere to go. If we DON'T get caught, I can have a nice apartment and pay less rent.

Any opinions????
so you're looking for someone to say go ahead and break the law? you know the deal if you're willing to take a shot go ahead, but don't whine if you get nailed
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Old 01-13-2008, 08:16 AM
 
12,340 posts, read 26,132,425 times
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rent- stab tenants are allowed to sublet for the remainder of their lease. The landlord gets the chance to approve the tenant but can't refuse a reasonable request. Check Tenant Net - New York City tenants for details. Why not move in as an approved sublettor and then get your own lease when her lease is up? You would have to pay an 18% increase as a new tenant but it's still well below market (depending on the neighborhood) and you would have much needed stability.

It's true the landlord would not be legally required to offer YOU the new lease, but if you are already living there, it's much more trouble for the landlord to start eviction proceedings to get you out than it would be just to offer you a new lease at the increased amount.

However, if the landlord has been waiting to do massive renovations so that he can increase the rent even more, then he may not want to give you a new lease (at the end of the sublet agreement) and might rather evict.

It's a tricky situation.
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Old 01-13-2008, 08:49 AM
 
4,502 posts, read 13,470,736 times
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Quote:
Originally Posted by apvbguy View Post
so you're looking for someone to say go ahead and break the law? you know the deal if you're willing to take a shot go ahead, but don't whine if you get nailed
No... I didn't say anything remotely like that. I asked for opinions on the situation......
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Old 01-13-2008, 08:53 AM
 
Location: Bergen County, NJ
9,847 posts, read 25,244,838 times
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I would be careful. But if the place is nice It would be worth a try. Don't answer any calls where you don't recognize the number. Landlords hire PI companies to try to see if other people live in their apartments.
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Old 01-13-2008, 10:40 AM
 
4,502 posts, read 13,470,736 times
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Quote:
Originally Posted by NooYowkur81 View Post
I would be careful. But if the place is nice It would be worth a try. Don't answer any calls where you don't recognize the number. Landlords hire PI companies to try to see if other people live in their apartments.
That is so true. I've heard some horror stories about management companies hiring PIs, having the maintenance people say they have to get in b/c of a leak just to see who's living there, checking credit reports to see if you list any other addresses, etc.

The market value on this apartment is well over 4K a month (probably close to 5K). I would love to have it, but it makes me nervous to think about getting caught. I know the management that runs this building would LOVE to have the apartment back. It's large enough to be converted to a 3BR and they could get a lot more than 1200/mo for it.
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Old 01-14-2008, 06:02 AM
 
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who cares if the oven or fridge breaks
when youre paying 2500 less than the apt is worth a month, if osmething breaks keep ypur mouth shut and buy a new one yourself
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Old 01-14-2008, 06:03 AM
 
1,552 posts, read 3,168,520 times
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also if youre not gonna take it if your friend is smart she would tell them ive been think about buying a condo but I cant afford the down payment and try and get them to pay her to move. Theyll be so happy that she is leaving that she can get 25-50k out of them easily.
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