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So I love my unit... but despite it being “affordable” its killing me financially. I’m considering maybe pursuing some possible career opportunities in China for maybe a year or two to see how it works out, but its hard to make that commitment if I have to walk away from my apartment. If this does work out longterm then great I’d be able to afford a comparable place wherever I am... but if it doesn’t and I have to retreat home with my tail tucked between my legs it would be great to be able to return to my unit if possible.
I’ve heard and read some mixed things regarding subletting lottery units. Some say its literally impossible and I’ve heard it is for under 2 years and only 10% above the regulated rent... and you can’t move out furniture for some reason.
Even if there are no other provisions in the lease concerning this, a rent-stabilized apartment has to be your primary residence. That isn't compatible with going away for half a year or more.
So I love my unit... but despite it being “affordable” its killing me financially. I’m considering maybe pursuing some possible career opportunities in China for maybe a year or two to see how it works out, but its hard to make that commitment if I have to walk away from my apartment. If this does work out longterm then great I’d be able to afford a comparable place wherever I am... but if it doesn’t and I have to retreat home with my tail tucked between my legs it would be great to be able to return to my unit if possible.
I’ve heard and read some mixed things regarding subletting lottery units. Some say its literally impossible and I’ve heard it is for under 2 years and only 10% above the regulated rent... and you can’t move out furniture for some reason.
Can anyone shed some light on this?
We just had a thread on very same subject a few weeks ago.
Bottom line then and answer to your query now is same; read terms of your lease. That is the only document which spells out what you can and cannot do with your apartment. If your unit is RS then that law makes provisions for subletting which may have been modified by agreement with city and landlord/developer for various lottery housing.
Posting your query here will get twenty ways from Sunday responses none of which are the same, nor likely accurate.
Even if there are no other provisions in the lease concerning this, a rent-stabilized apartment has to be your primary residence. That isn't compatible with going away for half a year or more.
That’s what I thought.... I might have to consider letting this place go. There’s no way in hell that I’m going to be able to retire and pay off my student loans at this rate. 0 idea why the city thought I could afford this. I had my doubts, but I went into it hoping I’d be making much more money within a couple years... which I’m still hopeful for. Well I’m only 6 months into a 2 year lease, so I guess lets see how it goes.
We just had a thread on very same subject a few weeks ago.
Bottom line then and answer to your query now is same; read terms of your lease. That is the only document which spells out what you can and cannot do with your apartment. If your unit is RS then that law makes provisions for subletting which may have been modified by agreement with city and landlord/developer for various lottery housing.
Posting your query here will get twenty ways from Sunday responses none of which are the same, nor likely accurate.
Ah thanks for the clarification. I’ll have to check up on the RS subletting rules and see what my lease says... the thing is literally 50+ pages long, but I’ll check it out.
Even if there are no other provisions in the lease concerning this, a rent-stabilized apartment has to be your primary residence. That isn't compatible with going away for half a year or more.
Primary residence in this state for all sorts of things including RS apartments is established by intent and other actions. If you are sent overseas or out of area for employment, military and or even prison you *still* can sublet a RS unit. Long as it still functions as your primary residence. By this things like where your mail is sent, establishing intention to return, address used on official documents, etc....
Primary residence in this state for all sorts of things including RS apartments is established by intent and other actions. If you are sent overseas or out of area for employment, military and or even prison you *still* can sublet a RS unit. Long as it still functions as your primary residence. By this things like where your mail is sent, establishing intention to return, address used on official documents, etc....
Thing about subletting today is unlike in past LL's will strictly enforce laws/provisions that tenant of record continues to make rent payments. That is they will not accept checks from the person subletting. Reason is that by doing so it can establish rights for said person to take over lease or whatever because LL "knew" tenant of record vacated or otherwise was not using apartment.
Know of persons who sublet for years, and each month they had to go to post office and get a money order because LL wouldn't accept checks. That was an improvement from having to send their rent to legal tenant of record who in turn mailed/made rent payments.
Years ago before getting a below market RS apartment was like finding a virgin at a prison rodeo, people simply moved into a unit of a friend or paid "key money" to tenant of record. Then promptly began paying rent under their own names (checks). When lease came up for renewal and or LL tried to get them out things moved to housing court were sublet renter could prove (by all those cancelled checks) that LL *knew or should have known* they were living in unit, and thus won apartment by default.
What people were trying to avoid are the various vacancy and or other fees attached to a sublet and or getting a new lease (as opposed to renewal).
That’s what I thought.... I might have to consider letting this place go. There’s no way in hell that I’m going to be able to retire and pay off my student loans at this rate. 0 idea why the city thought I could afford this. I had my doubts, but I went into it hoping I’d be making much more money within a couple years... which I’m still hopeful for. Well I’m only 6 months into a 2 year lease, so I guess lets see how it goes.
These affordable units are not affordable. Most people jump in on them but based on income requirements minus rent, food, transportation, cost of living, etc the occupant will eventually end up living paycheck to paycheck with nothing to show for it. When rent is more than a maintenance fee or mortgage something is wrong. The best mistake I ever made was not accepting that affordable apartment at Hunters Point South years ago or I may have been doing the same thing you are doing now.
These affordable units are not affordable. Most people jump in on them but based on income requirements minus rent, food, transportation, cost of living, etc the occupant will eventually end up living paycheck to paycheck with nothing to show for it. When rent is more than a maintenance fee or mortgage something is wrong. The best mistake I ever made was not accepting that affordable apartment at Hunters Point South years ago or I may have been doing the same thing you are doing now.
Yeah I mean spending $2000/mo on an apartment wasn’t something even remotely on my radar. I was paying $850/mo before moving into this thing. While yes I’m getting quite the bang for my buck, I’m simply not making much finanicial progress. I can barely afford to invest anything in my retirement accounts anymore and my student loans are just getting the bare minimum payments.
This affordable housing scheme doesn’t benefit New Yorkers, its just ****ing welfare for billionaire developers.
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