A lot of students travel to Brooklyn to pursue higher education. They tend to sublet their apartments so that the overall rent of the apartment decreases. Here are a few rules for the first-timers who wish to rent their apartment in Brooklyn.

Subletting is Rental Property Investing, where the tenant sub-lets their apartment to a third-party tenant who pays them the rent. If you are staying alone in a big apartment, you can earn a few bucks or arrange for your rent by doing so. However, there are a few rules that the landlord must be aware of before doing so to avoid falling into any legal hassles.

Firstly, if you wish to sub-let your apartment in Brooklyn and it is a condo you want to sub-let, it will be a little tricky. Sub-letting a condo requires the board’s permission. The board has the right to reject your application of sub-letting your apartment without even giving you a reason.

Secondly, if you are staying in an apartment that is more than four units, then the government of New York gives you the permission to sub-let your apartment provided you take the onus of the apartment’s rent. If you are not staying with the tenant during the tenure, you have to assurance that you have plans of returning before your application is screened by the authorities to sub-let the apartment.

Most importantly, you cannot charge higher than the rate that has already been fixed as the apartment’s rent to earn some extra bucks. When you are sub-letting an apartment in Brooklyn, make sure the rent should be precisely what it was offered to you to ensure your tenant gets a fair deal.

We have a team of experts who provide you with all the necessary information. We also make sure you do not face any legal issues trying to sub let your apartment. In US since most people stay alone it is normal to sub-let an apartment and it is completely healthy but you need to keep the norms of Brooklyn in mind before you ask anybody to share the apartment with you for a pleasant stay, To know more about the norms, you can get in touch with Wide Range Capital to gather more knowledge about Investing in Properties.