Getting a furnished short term rental in NYC is not easy as you may think, although Leasebreak makes it much easier. The reason furnished short term rentals are so hard to obtain is because they make up a very small percentage of available NYC apartments. Landlords would rather have longer term leases, and as long as the vacancy rates in NYC remain low, landlords have the leverage to dictate the terms. To landlords, furnished short term rentals are just too risky.
Before Leasebreak hit the scene in 2013, furnished short term rentals were also very difficult to find because there was no one place people could go to see the thousands of available furnished short term rentals at any given time. You had to look on multiple websites, or ask every landlord if they would allow furnished short term rentals (95% said no). Leasebreak’s job is to provide one marketplace for all of these furnished short term rentals (along with rooms for rent, leasebreaks, and sublets!). You can post and search for free!
DEFINITON OF "SHORT TERM" and "FURNISHED"
First, let’s define what we mean by “short term”. In NYC, the “short” in “furnished short term rentals” means furnished apartments with minimum lease terms of between 30 days and 12 months, but mostly we are talking about furnished apartments with minimum lease terms of between 30 days and 6 months. Be careful if you are looking for a furnished short term rental under 30 days. In Manhattan most furnished leases that are less than 30 days are illegal. The NY attorney general even wrote a report a few years ago stating that 72% of the rentals on Airbnb violated NYC rental laws.
Second, let’s define what we mean by “furnished”. Let’s first talk about your standard 12 month rental. In NYC, almost all 12 month minimum leases come “unfurnished”. You need to bring (or rent) your own furniture. But - perhaps obviously - furnished short term rentals come “furnished”. However, “furnished” can mean different things to different people:
The meaning of “furnished” in the term “furnished short term rentals” really runs the gamut. It could mean furnished apartments which include only beds and rugs, or furnished apartments that include everything from linens to toothbrushes and everything in between.
PRICING AND FEES ON FURNISHED SHORT TERM RENTALS
You will notice that the price of a “Furnished short term rental” compared to a more normal 12 month rental can be anywhere from 10% to 100% higher, and up! Also note that the price really spikes in the summer months when the demand is ferocious for furnished short term apartments as many young professionals are looking for places to stay during their summer internships.
Of course, there may be hidden fees too on furnished short term rentals, so make sure you always ask the lister about the following: cleaning fees, application fees, credit check fees, and hotel taxes. Make sure you have an understanding of all fees, which should all be disclosed on the listing by the way. (If not please let us know!).
Leasebreak goal is to provide a transparent marketplace to help you find a furnished short term rental. If you have any questions, please drop us a line using the blue “feedback” button on this page.
Like “short term rental”, the term “sublet” is used for many different situations in NYC. First, what is a sublet?”
DEFINITION ON NYC SUBLET - LEGAL DEFINITION
Well, legally speaking a sublet is when a current tenant (sublessor) rents an apartment to another tenant (sublessee). The lease in this situation is known as a sublet. It can be a short term sublet, or a long term sublet. It can also be a furnished sublet or an unfurnished sublet.
The legal definition of a sublet described above comes about usually in two different ways:
The first situation would be when a tenant is subletting their apartment because they are going to be away for a set period of time, usually between 1 month and 12 months. This would be the first kind of sublet.
The second situation is when a tenant is looking to terminate his or her lease early, and the landlord is allowing the tenant to offer the apartment as a “sublet” for the remaining months of the lease. This would be the second kind of sublet.
Note that if you are looking at an apartment that meets the legal definition of “sublet”, than the existing tenant of this sublet, who is still on the lease, will be acting as your landlord. All rent due for the sublet will usually be paid to the existing tenant, not the landlord.
DEFINITION ON NYC SUBLET - COLLOQUIAL DEFINITION
However, often New Yorkers just use the term sublet to refer to any apartment for rent, as in “Where can I go to find a sublet?” Generally, when a New Yorker is asking where they can find a sublet, they are NOT thinking that they only want to be in a situation where the existing tenant is renting out the apartment.
Leasebreak has hundreds of sublets meeting the “legal” definition, and thousands of “sublets” meeting the more general colloquial definition.
SO HOW DOES FURNISHED SUBLETS FIT IN?
When a renter wants to look at furnished sublets, they are almost NEVER talking about the legal definition. This renter usually wants to look at apartments where the landlords specialize in short term furnished apartments / furnished sublets. Leasebreak has thousands of these type of furnished sublets on our website.
Of course, many tenants who are subletting their apartments may also be offering a furnished sublet. However, the type of furnishings vary greatly. For example, the tenants who planned to come back to the apartment usually are leaving ALL of their furniture behind, while the person who is looking to terminate the lease early will often take some or all of their furniture with them. For this reason, make sure you confirm exactly what furniture is staying in a furnished sublet, especially if the furnished sublet is being offered by a tenant.