going over contract

NYC leases are hard to get out of, but sometimes allowing someone else to take over your lease is a viable option. Subletting and assignments are both options available to many commercial and residential property renters. You just need to be sure that your lease allows it. A Long Island, NY landlord-tenant dispute lawyer can help you figure out if this is open to you.

 Do Commercial and Residential NYC Leases Allow Subletting?

Both commercial and residential NYC leases can allow for subletting. In most cases, the landlord has to agree to allow a sublease. In most commercial leases, this is clearly laid out. If the landlord does not want you to sublet and that’s in the contract, you won’t be allowed to.

Even if you are allowed to sublease, it’s necessary to get the approval of the landlord. If you have a residential lease you must make the request in writing and send it to your landlord with information like the length of the sublease, the name of the subtenant, and a copy of your proposed sublease agreement. Commercial property lessees also need to get approval of a sublease in writing.

The landlord can request more info within 10 days and must approve or deny the request within 30 days. If they do deny the sublease, it must be for a good reason, like poor credit.

What is the Difference Between a Sublease and an Assignment?

A sublease agreement keeps you on as the original tenant. This means that you may be responsible for any damages that the subtenant causes. An assignment is different. In these situations, a tenant is giving the lease over to another tenant. The landlord must approve the assignment.

This can be a good way to avoid the typical penalties associated with breaking NYC leases early. You are finding your landlord a new tenant and they do not have to pay money to relist the apartment or hire a broker. They also get all of the income they expected when they signed the original lease with you.

Are There Other Important Restrictions When It Comes to NYC Leases?

Even if your lease does not specifically state that you are not allowed to sublet, there are some residential buildings that do not allow it. You cannot sign up someone to a sublease if you live in:

  • A co-op
  • A non-profit building
  • A rent-controlled apartment
  • Public housing

If you receive any kind of rent subsidy, you are also not allowed to sublet.

Talk to Our Real Estate Lawyers

If you have any questions about your lease and what you are allowed to do with your commercial or residential property, contact David A. Gallo & Associates, LLP. We can help you adhere to local laws and we’ll fight for you if your landlord is not working with you in good faith. Schedule your consultation with our team today.