In order to be successful in the greatest city in the world, you need to be ambitious. In a time where new money may be hard to come by — especially in the real estate world — there is nothing wrong with ambition.
New Yorkers — even the ones still paying rent — are fleeing the city to avoid the congested city. But why leave that empty space go to waste? As a result, many are trying to find potential tenants who are interested in subletting.
“New Yorkers had to cancel or delay moving plans, many roommates vanished overnight to shelter in place elsewhere, and the hardest thing to find right now — aside from hand sanitizer — is a subletter,” reads the Times.
Tenants are begging their landlords the break their leases, and others are pleading to let them move forward with a month-to-month extension.
“If no one needs to move right now, they’re not looking to,” said Jessica Swersey, a real estate agent at Warburg Realty.
The Times tells the story Laticia Browns, a 35-year-old with two roommates in her Brooklyn apartment. The two up-and-left, and she does not know if they will be paying rent, or if they are even coming back. She was looking for subletters, but there are obviously no takers.
“I voiced my concerns to the management and they basically said, ‘You signed a legally binding document, you have to pay,’ ” she said. “I reminded them of the 90-day eviction moratorium, but I don’t really like that, either. If I can’t pay the full rent, will it go on my credit? There’s a lot of ambiguity.”
Although some believe the landlords need to bend the rules for their tenants during this time, others believe that the renters are locked into a lease, and that money is owed to the building owner.
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To read the full story in the Times, click here: https://www.nytimes.com/2020/04/09/realestate/coronavirus-nyc-rental-market.html
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