Sublets, which are sub-leased apartments, are excellent alternatives who require flexible situations.
Sometimes a standard lease is too long, and most homeowners and property managers insist upon a standard one to two year lease.
New York City is huge, but there isn’t very much vacant space out there. It can be a lot easier, and faster to just rent out a sublet from someone who is often away on business trips while you are in need of a temporary space to crash–and call your own.
Many condo owners rent out their space when they leave for the winters or summers, and it sounds so easy to do…but it can be very tricky!
Hire A Professional Real Estate Agent
Why should you spend even more of your hard earned money on letting a real estate agent handle finding you a place to live? One word: SCAMS. They are A LOT more common than you may think–in fact, they are everywhere! It is always best to let someone handle legal documents, such as leases, especially when you are moving into someone elses home. I
f you don’t want to take my word for it, you can certainly check out some true New York City sublets nightmare stories on your own, like the one found here: http://www.refinery29.com/15786. I am by no means saying that this WILL happen to you, but it certainly COULD. Just knowing that should be enough to make you lean one way or another.
Pros and Cons of New York City Sublets
If you already know you need a place to live for a specific length of time–say, for the summer–sublets are a great option. They don’t last the typical leasing terms, which usually range from one to two years. Some sublets come partially, or fully furnished, which can also save you time, as well as money.
This is great because moving is already so expensive, furnished sublets allow you to keep even more of your pay check in your pocket! Sublets are also a great way to find out about certain areas you were previously unsure of, and want some extra time to check things out before settling in for good.
There are, however, some drawbacks to subletting just like anything else. Most people who rent sublets have little room to keep their personal things, so you may need to consider renting a storage unit if you have a lot of belongings.
While you are not running the risk of being stuck in a place that makes you miserable, you should always expect to have less rights as a sublet tenant, than a typical renter–especially if you have found yourself in an illegally-rented out sublet.
People who rent their apartments and condos out illegally may want to keep you a ‘secret’ from their own landlords, which leaves you with less options of having a ‘normal’ rental experience. If the leaser is worried about you being ‘found out’, they may try to implement many rules, so you are not ‘discovered’.
It is also much easier to be evicted from an illegal sublet, than from a sublet that holds a valid lease. These are things you should always keep in mind.