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Newbie_banker's picture

Question: onerous leasebreak term

I found an apartment in NYC that I like, but landlord wants a lease break fine of 2 months rent if I terminate the lease within one year.

Is this the normal industry standard term? I find that very onerous. What does your lease say about termination within one year?

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tbroker's picture

No he is screwing you, it is

No he is screwing you, it is usually 1 month, and that is ONLY if you yourself can find a new tenant.

PowerMonkey's picture

They don't have to do anything

Unless you have a specific term in your lease that will allow you out, in NYC they don't have to, PERIOD.

So, your options are to sublet, or to negotiate with him.