You need to bring (or rent) your own furniture. In NYC, almost all 12 month minimum leases come “unfurnished”. Let’s first talk about your standard 12 month rental. Second, let’s define what we mean by “furnished”. The NY attorney general even wrote a report a few years ago stating that 72% of the rentals on Airbnb violated NYC rental laws. In Manhattan most furnished leases that are less than 30 days are illegal. Be careful if you are looking for a furnished short term rental under 30 days. This is also known as "temporary housing". In NYC, the “short” in “furnished short term rentals” means furnished apartments with minimum lease terms of between 30 days and 12 months, but mostly we are talking about furnished apartments with minimum lease terms of between 30 days and 6 months. Of course, being able to post your short term rental so easily also helps provide renters with thousands of short term rentals to choose from.ĭEFINITON OF "SHORT TERM" and "FURNISHED"įirst, let’s define what we mean by “short term”.
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You can easily list your rental on Leasebreak - for free - in a few minutes. While we made it easy to search, we also made it very easy to post your furnished short term rental. Leasebreak’s job is to provide one marketplace for all of these furnished short term rentals (along with rooms for rent, leasebreaks, and sublets!). You had to look on multiple websites in order to find temporary housing, or ask every landlord if they would allow furnished short term rentals (95% said no). To landlords, furnished short term rentals (temporary housing) are just too risky.īefore Leasebreak hit the scene in 2013, furnished short term rentals were also very difficult to find because there was no one place people could go to see the thousands of available furnished short term rentals at any given time. Landlords would rather have longer term leases, and as long as the vacancy rates in NYC remain low, landlords have the leverage to dictate the terms. The reason furnished short term rentals are so hard to obtain is because temporary housing makes up a very small percentage of available NYC apartments. Getting a furnished short term rental in NYC is not easy as you may think, although Leasebreak makes it much easier.
Just post your listing on Leasebreak and wait for the traffic to roll in. Whether you are trying to find a renter to help you break your lease, take over your lease, or sublet from you, we are here to help you. A big disadvantage to this approach is that you are still on the hook financially until the end of the lease. Basically a sublet means that you are still responsible for the monthly rental payments to the landlord, and the incoming tenant will be paying the rent to you directly. We explain the term above under the topic “NYC Furnished Sublets” so we won’t go into much detail here. As with the “leasebreak” approach, a benefit of this approach is that you would have no more financial obligations on this lease.Ī “Sublet”: The term “Sublet” is often thrown around a lot. That is, you would be assigning the remaining months left on your lease obligation to a new renter. Under this scenario, you would be “assigning your lease” to a new tenant. When you hear the term “taking over my lease”, a lease assignment is usually the situation. A huge benefit of this approach is that you are no longer on the hook for any remaining lease payments.Ī “Lease Assignment”: Lease assignments are very common. Under this scenario you would be signing a lease termination letter, and you and your landlord will be finding a new 12 month renter and signing a brand new lease contract with them. You are essentially "tearing up" the lease obligation. Check with your landlord to see which one or ones they prefer:Ī “Leasebreak”: Well, technically a true “leasebreak” means that you are breaking your lease. There are three ways you can break your lease obligation.
This is because the landlord can possibly get more rent from a new tenant if you are to leave your lease early.
This can usually be accomplished, especially in an environment where rental prices are rising. Ultimately, most landlords are okay with you leaving your lease early as long as they don’t have to come out of pocket financially. Why? The legal approach is expensive, messy, and often does not get you the desired results anyway. Even landlord-tenant attorneys will suggest you do this. There are many reasons why you would want to break your lease and get out of your lease obligation early: getting a new job, expanding your family, losing your job, getting married, etc.įirst, if you are going to try to get out of your lease early, we highly suggest you reach out to your landlord first. What does breaking your lease really mean, and how does one break their lease? Well, the concept of “breaking my lease” has to do with ending your lease obligation earlier than what is stated in your lease contract.
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