How can I takeover my friends great apartment they are vacating soon?
You can t unless you can convince the landlord to rent you the apartment and agree to pay the “vacancy increase,” (which is currently 17-20% in most cases). The landlord may also add to the monthly rent 1/40th the cost of any improvements made while the unit is vacant. Whoever the current primary tenant is could also apply to the landlord for a lease assignment assigning the lease to you. A lease assignment conveys to another person all the tenant’s rights to occupy the apartment, whereas a sublet is based upon a temporary absence by the prime tenant who intends to return to the apartment at the end of the sublease. This is unlikely to result in your avoiding the full vacancy increase because a landlord may take a vacancy allowance when a lease is assigned. Also, a tenant may not assign his/her lease without the written consent of the owner, which may be unconditionally withheld without cause. However, an owner who unreasonably refuses to grant permission to assign the lease must relea
You can t unless you can convince the landlord to rent you the apartment and agree to pay the “vacancy increase,” (which is currently 17-20% in most cases). The landlord may also add to the monthly rent 1/40th (or 1/60th in buildings with more than 35 apartment units, effective Sept 24, 2011) the cost of any improvements made while the unit is vacant. Whoever the current primary tenant is could also apply to the landlord for a lease assignment assigning the lease to you. A lease assignment conveys to another person all the tenant’s rights to occupy the apartment, whereas a sublet is based upon a temporary absence by the prime tenant who intends to return to the apartment at the end of the sublease. This is unlikely to result in your avoiding the full vacancy increase because a landlord may take a vacancy allowance when a lease is assigned. Also, a tenant may not assign his/her lease without the written consent of the owner, which may be unconditionally withheld without cause. However,
Related Questions
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- How can I takeover my friends great apartment they are vacating soon?
- Sounds great! How soon can we start working together?
