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Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Landlord-Tenant
Satisfied Customers: 16721
Experience:  Attorney experienced in Landlord-Tenant Law.
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I want to move out of my rent stabilized lease. I have a

Customer Question

I want to move out of my rent stabilized lease. I have a 1000sq feet corner unit and it is very desirable. I want to approach management to buy out my one year left. How can I get some information if they consider it. Can I ask for more the the one year left and I am located in Manhattan good views.
Submitted: 2 years ago.
Category: Landlord-Tenant
Expert:  Alex J. Esq. replied 2 years ago.

Hello. My name is***** will be happy to answer your question.

Generally, the management can be approached by simply indicating to them that the tenant might be willing to move out early, if a proper amount of compensation can be offered.

In many cases management / landlord would be willing to offer a sizable amount of compensation, in order to "get rid" of a rent stabilized tenant and the amount of compensation might exceed the annual lease rent amount, depending on how much profit the management can make with a new tenant, if the rent stabilized lease is terminated earlier.

I wish you the best of luck!

Expert:  Alex J. Esq. replied 2 years ago.
Expert:  Alex J. Esq. replied 2 years ago.