Forum
« Bluestone kitchen & bathroom »
September 19, 2007
Advice on Subletting
I just got a consulting offer to work overseas and that means that I probably won't be in the country for about 6 months and possibly longer. The problem is that I just settled into my brand new beautifully renovated apartment and I terrified to think about subletting it. It is a very large 2 bedroom in nothern Park Slope with access to the back yard and with all the details carefully thought-out as I thought I will be living here for many years to come. With this new consulting gig looming I am thinking of subletting my new place as I can't afford not having it paid for. But it is a tough thought given how much energy I gave to renovate the place and make it my own.
I wanted to know if people have advice on my situation. What precautions I need to take when subletting my new place, how much deposit I need to ask, how i can prevent big damage to my new place, etc, etc, etc. Is it a worthwhile effort at all or should I just swallow paying for my apartment and keep it unoccupied. Also, should I use an agency or try to sublet it on my own.
Any advice will be greatly appreciated.
Thank you
Comments
i'm confused, do you own or rent this apartment?
Posted by: guest at September 19, 2007 12:23 PM
I own this apartment. I guess calling it subletting is confusing. I mean renting it for a short period of time.
Posted by: guest at September 19, 2007 12:34 PM
It's a process called renting. You put it up on craigslist, interview the respondents, and require a month's deposit.
Posted by: guest at September 19, 2007 12:49 PM
Sorry, I am a foreigner -- thus my misuse of the word. The reason I called this subletting is because it is rather short-term, I don't want to rent for longer than 3 or 6 months with the possibility of extending.
Posted by: guest at September 19, 2007 12:54 PM
Another point I forgot to mention is that the apartment is fully furnished -- sparsely and elegantly-- I would want to rent it as is. So this also causes additional concern
Posted by: guest at September 19, 2007 12:57 PM
I sublet my old apartment a few times without a problem. But that doesn't guarantee anything. Realtors in your neighborhood would be good to talk to. They often rent furnished apartments to visiting folks and can help with the critical reference/credit checks.
Posted by: Johnny at September 19, 2007 1:03 PM
you might get a few responses from this website, in fact.
how much do you want to sublet it for?
Posted by: guest at September 19, 2007 1:06 PM
Advertise it on ParkSlopeParents.com or on their classifieds list. I regularly see notes from people on those boards whose apartments are being renovated and need someplace to live with their families while work is done.
Posted by: guest at September 19, 2007 1:12 PM
i guess it depends on the timeframe. for 3 months i would probably deem it not worth the trouble. for anything longer than that, i'd probably try to find a renter.
Posted by: guest at September 19, 2007 2:33 PM
To add more details, my apartment is 1100 square feet with a deck and all the latest greatest appliances including washer and dryer. It has designed designed modern kitchen and dark wide-plank floors. It is close to the Atlantic Avenue stop and right next to the 5th Avenue and its boutiques and restaurants. The furniture is all European and expensive.
I am thinking of asking $3500 a month, would like to rent for about 6 months at first might extend.
Thank you.
Posted by: guest at September 19, 2007 2:42 PM
I'm a licensed real estate agent and I live in the area. I would be happy to answer your questions and help you rent your apartment if you decide to use an agent. There's no cost to you. My company would screen the tenant for you, run credit, review standard supporting documents, help you price the apartment, post ads, send out the listing to a network of brokerages in the NYC area and to our corporate relocation clients, and help you prepare leases and riders to protect your property and your interest. Feel free to email me privately at gng@triumphproperty.com to discuss your options. If you decide to rent this on your own, please be careful of Craigslist scams -- require certified bank checks and make sure you meet the potential tenant in person. Best of luck!
Posted by: guest at September 19, 2007 3:55 PM
We rent the ground floor of our townhouse and I've always rented it myself--I-'m not convinced that all brokers complete the do-diligence they claim to do. I use Craigslist AND check out potential tenants through American Tenant Screen that will check and see if they have a criminal record, have been bankrupt, in housing court, etc. ATS is one of several services of this type.
Alternatively, you might want to check out firms that help folks with relocation to NYC and give them your listing. You would more likely attract a more affluent tenant, and his/her company could be paying the rent anyway.
Does your building have a super or maintenance person that you trust? If so, I would pay him a small fee to keep an eye on things, and also to handle any problems that come up--even excellent tenants can have maintenance issues.
I would ask for one month's rent plus two months' security and absolutely no pets.
My neighbor moved to Italy for a year and was able to rent his lovely duplex to a nice family during that time. Good luck.
Posted by: tinarina at September 19, 2007 4:20 PM
"one month's rent plus two months' security"
This is the key.
Make sure you get the two months security.
Posted by: guest at September 19, 2007 4:35 PM
Ideally try to rent it to someone that you know, or a friend of a friend....
Still ask for the security and deposit and check the person out with interviews etc.... but if you are so concerned I would say try to keep it "in the family" by renting to someone that you are some how connected to...
Posted by: guest at September 19, 2007 4:59 PM
A little off-topic (maybe), but I'm looking for a short-term furnished rental, about 3 months starting in January (I'd guess - we're having our Brownstone on St John's renovated and need somewhere to stay while its done). I have an 18mth old son and 2 small dogs (both of which are fully house trained and neither of which shed hair), but I'm prepared to give you a full security deposit, all the references you need (you can even come and meet me in my house so you know I'm not bullshitting), and I'll take it for the full 6 months. If the dogs bother you, I'd consider paying to have any delicate furniture moved into storage during the let.
If that's of interest, post your email address or phone number and I'll contact you directly.
Posted by: guest at September 19, 2007 5:14 PM
Just an FYI for the nitpickers: if this apt. is a coop then the poster is in fact a tenant (he owns shares of the coop corporation, and leases the apartment connected to those shares), and 'sublet' is in fact the correct term.
Posted by: guest at September 19, 2007 5:24 PM
If it is a co-op, you might check the co-op's rules for renting the place out to a non-relative. Some places won't allow it. Others put time constraints and take a cut of the rent. A violation can lead to a cancellation of your prop. lease -- although that is pretty extreme.
All of the advice you've gotten has been good: big security deposit, someone to take care of problems while you're not around, NO PETS (there is nothing more annoying than the stain of dog or cat crap staining your nice floors). I sublet my place for a year to a family with a dog. The pet scratched the kitchen cabinets into oblivion, burnt out the internal vacuum with all the dog hair, and smoked so much that the place smelled like an ashtray for 6 months afterwards.
Posted by: guest at September 20, 2007 8:14 AM
guest at September 20, 2007 8:14 AM:
"...The pet scratched the kitchen cabinets into oblivion, burnt out the internal vacuum with all the dog hair, and smoked so much that the place smelled like an ashtray for 6 months afterwards."
The image of a dog vacuuming the floors with a cig hanging out of its mouth is forever emblazoned in my mind!
Posted by: johnife at September 20, 2007 9:18 AM
1. Rent to someone who has owned before. They are more likely to take care of your place better.
2. If you are really concerned about your furniture, you'd be better off to move it into storage - or at least select pieces - before renting.
3. Two months security is excessive - you are less likely to get smart, responsible renters. If the market is 1 month security, why would any smart person (which is what you want to best care for your place) rent a place that asks for 2 months? I never would when I rented...
Posted by: guest at September 20, 2007 7:08 PM
Post a comment
Please be patient while your comment is published. It may take a moment.