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need advice on subletting out our apartment — Brooklynian

need advice on subletting out our apartment

xueling
xueling
edited November -1 in Prospect Heights
We are planning to sublet our apartment for a couple of months this summer while we are away and then permanently in October when we'll move overseas. I was wondering what the best way to find out what the going rate is for temporary sublets and permanent rentals in the area. I've tried to get an idea from craigslist but it's kind of all over the place. Any other local sites to look at to give me an idea of what is fair market value right now?

Also, if anyone has any suggestions on where to look to draw up a sublet and rental agreement please let me know. We want to make sure we are doing this in accordance to what's going on in the neighborhood/market right now.

Finally, we were hoping to find a real estate firm to manage the apartment for a percentage of the annual rent. I guess this is very common in the UK and Australia but we haven't found any real estate agencies who do this here. It would mean finding tenants and working with them if the apt needed some kind of repair etc. The place is a pretty low-maintenance apt in a good condo bldg, but we still think it will be a hassle for us to manage since we're moving to the other side of the world. Any thoughts?

Thanks!

Comments

  • dojoji
    dojoji
    A friend of mine used the standardized form she found here:

    http://www.findlegalforms.com/xcart/customer/home.php?cat=624&partner=google

    I know she found her person through a referral, but still did things to minimize her risks (of people doing damage, running up utilities/bills), etc.

    I don't know too many details of her situation, but she's back in her apartment now with no issues
  • vanilla
    vanilla
    what's the apt. location, size, bedrooms, etc.? also, is it a legal sublet? & how long will you be gone? answering these questions might get you more good advice!
  • xueling
    xueling
    It's a 2 bedroom/2 bath apt in a doorman building on Butler Place. Yes, it's a legal sublet (it's a condo we own). We'll be gone from end June- beg Sept so we're hoping to sublet (furnished) for at least all of July & August. We'll be back for Sept and some of October, then plan to rent it out permanently (unfurnished) from about mid-October on.

    I didn't want to post too many details here b/c I know those "selling" posts belong in the Classifieds. But at this point we just want to know how to figure out what to charge. Thanks for the help.

    Thanks for the tip, Flexichick. I'm not sure either if it's common to include utilities in the sublet fee (for the summer sublet, not the permanent rental) or not. I feel like it's better to have it included in the sublet fee, but then I imagine someone keeping on the a/c for 2 months straight...
  • haikiligan
    haikiligan
    Exactly - keeping the A/C on, having access to make long distance calls, ordering porn on cable, etc.

    I've never sublet, but I do know that these are the things my friend was told to watch out for as other people we know apparently learned the hard way.
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