Updated about 4 years ago on . Most recent reply
Bound by lease advice
Hi there, I rent in Queens NY and signed a 2 year lease as I got a good covid deal on a building I would otherwise not be able to afford. My lease does not end until January of 2023. I'm new to REI but have been educating myself for a few months and am actively enrolled in the Real Estate Rookie Bootcamp. Ideally I'd love to househack in Westchester NY however I am bound by this lease (sublets and rental arbitrage not allowed) but don't want to use this an excuse to wait a year to make a move. Any advice? Would you wait until lease is up or attempt other strategies until then?
Most Popular Reply
@Mario Malpelli Does the lease cover what the fee is if you leave early? Is the landlord flexible if a replacement is found?
For my leases, if someone is moving out of the area for good reason, I have been open in the past to getting a replacement tenant as long as the existing tenant covers all fees.