What is "Sublet"

Nitha J · Mar 18, 2010

Hii all
Since we are planning to move closer to NYC; we are on apartment hunt. I saw that there is a considerable difference in rent when you are subletting.
I would like to know how different is sublet from normal renting? Is it a common practice to sublet?
Please help.
-Nitha

gjaya · Mar 18, 2010

Hi Nitha,

From my understanding it is like this, sublet happens when the person who has rented the apartment has to suddenly move out before the lease term and so since they have to pay the rent for the entire lease term they instead sublet at a lesser amount so that they can cover their rental amount.

So if it is subletting then you pay rent to the person who has rented the apartment as opposed to the apartment community/owner.

Jaya

Nitha J · Mar 18, 2010

Thanks Jaya for quick response.
So I guess there would be an agreement between sub "lessee" and "leasor".
-Nitha

Pavarun · Mar 18, 2010

Nitha,

I believe it is legal, different states have rules on subletting. From a quick search teh NY state regulatory authority seems to be New York State Division of Housing and Community Renewal - DHCR

I also found Fact Sheet #7 - Sublets, Assignments and Illusory Tenancies
(Lots of legalese, you will be able to better understand/wade through all that)

gjaya · Mar 18, 2010

Nitha J said: ↑

Thanks Jaya for quick response.
So I guess there would be an agreement between sub "lessee" and "leasor".
-Nitha
Click to expand...

Yes Nitha, and its common in most of the bigger cities.

Jaya