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To Sublet or Not To Sublet

In NYC people sublet all the time. That being said, it may not be such a good idea to do so. Many times tenants sublet their apartments without notifying their landlords which then makes it illegal, resulting in both the tenant and the subtenant's eviction. According to Sublet in NYC, subletting in NYC condos or coops is almost always illegal as condo/coop boards rarely approve subleasing apartments in their buildings. The company cautions against subletting in these types of buildings. As for subletting in single-owner buildings, always get the "landlord approval in WRITING without exception". Happy Subletting!

What are some reasons a potential tenant may be rejected?

When renting, landlords consider things like debt-to-income ratio, financial assets, credit history and previous landlords' experiences with the tenant.They also check to see if the tenant "had history of harassing other tenants, demanding frivolous repairs or keeping a pet in violation of the lease". However, they cannot reject a tenant based on race, gender, national origin, religion, sexual orientation, familial status (to view the complete list go to NYC Commission on Human Rights). Usually landlords are not required to provide reasons for rejecting a tenant but if the rejection occurred because of credit report information, landlords must provide the decision in writing along with the information used to reach that decision.  

Are landlords responsible for notifying if the building had a bedbug history?

Yes. The NYC administrative code requires that landlords disclose if bedbugs have been detected in the apartment or building within the past year. However, there isn't much the law does if landlords fail to comply. It simply mandates that landlords provide a notice that bedbugs were present in the building.

Is it possible to negotiate rent for the second year?

According to the Rent Coach at Brickunderground.com, it is possible to do so as long as the tenant negotiates it before moving in. That way he or she has more leverage with the landlord. He advises, during negotiation, renters ask to include a renew option as well as an escalation clause (it specifies how much rent increase is permissible should the tenant decide to renew the lease).These options give them a "contractual right to renew at terms agreed on now".

Owner of the condo unit verbally promised that the tenant can have a pet. But the building management says no.

Condos or coops have bylaws that may have different rules for owners and renters. So they may allow owners to keep pets (the thinking behind that is owners will take better care of their properties than their renters will) but deny that privilege to their tenants. In both condos or coops, the board establishes rules that all owners and tenants in that building must follow. So any verbal assurance other than what's written in the lease means nothing. Always make sure to read the building's bylaws or house rules before renting a unit in a condo or coop to prevent any future surprises.

Security Deposits

-Landlords require security deposits to protect themselves financially against any unpaid rent or damages done to their apartments beyond the normal wear and tear.
-The money cannot be used for basic cleaning and repainting.
-It must be deposited in an escrow account separate from the landlord's personal funds (mixing security deposit and personal money is illegal in New York state)
-Each tenant must be notified in writing of the bank's name and address and amount of the security deposit
-Landlords of apartment buildings with 6 or more units must put all security deposits in interest-bearing New York bank accounts; 1% of the interest money can be used toward annual administrative expenses and the rest belongs to tenants that can be applied to their rents or paid them annually or at the end of their lease terms. Landlords of 6 or less unit buildings also have to follow the same rules if they deposit the money in interest-bearing accounts
-If the building is sold, all security deposits must be transferred to the new landlord, or returned to the tenants (who should be notified of the sale).
-At the end of the year, landlords may ask for tenants' W-9 forms to document for tax purposes the interest earned on security deposits for that year.