Breaking a Bettina Equities Lease: Assignment or Sublet?

Step 1 · Permission

Ask Bettina what the replacement will sign.

Start with your current building contact, or call 212-744-3330 or email info@bettinaequities.com. Identify the address and unit and ask who handles lease changes and outgoing-tenant releases.

Say whether everyone is leaving, one roommate is changing, or you intend to return. Keep the reply and follow the lease’s formal notice requirements separately.

Step 2 · Written terms

Confirm the offer before arranging showings.

• Rent and dates: approved rent, start date, and remaining or new lease term.
• Application: current checklist, qualifying requirements, guarantor options, and submission channel.
• Costs: an itemized quote, who pays each charge, and separate security instructions.
• Release: the agreement, signatures, funds, and effective date ending your obligations.

If Bettina calls the process a re-rental, ask when your rent responsibility ends and what happens if the next renter starts later than planned. For a roommate change, identify exactly who stays liable and who is released.

Step 3 · Choose the route

Match the listing to the approved term.

A renter seeking a short stay may accept the remaining term but decline a new year. Confirm the approved structure and price before marketing; ask about a later renewal without promising one.

New York Real Property Law § 226-b generally requires written owner consent for assignment. Covered apartments in buildings with four or more residential units have a separate sublet procedure. Regulated and special-program apartments can have additional rules; use the applicable process for a temporary absence.

Step 4 · Applicant requirements

Check Bettina’s income and savings guidelines together.

The financial FAQ publishes these regular-rental guidelines. Confirm their application to your replacement before selecting someone.

Ask how combined income, self-employment, a new job, or rental assistance is assessed. Resolve the accepted third-party guaranty product and eligibility before the renter buys a policy.

Step 5 · Apply

Prepare the documents using the current checklist.

Have Bettina send the package and submission instructions for your unit. Its posted checklist includes:

• An employer letter and three recent paystubs.
• Three months of bank or other financial statements.
• Landlord verification, a reference, and six months of rent-payment records.
• Tax-return pages when requested and two photo IDs at signing.

Confirm what each applicant and guarantor needs, which alternatives are accepted, and when signing funds are due. Submit sensitive records through the authorized channel and ask for confirmation of receipt and missing items.

Step 6 · Find the replacement

Show the apartment and the deal accurately.

Once marketing is authorized, use current photos, the approved rent, available date, actual layout, and lease length. State whether furniture is included and whether the change covers the whole apartment or one roommate.

Arrange occupied showings with the household and building. Put any incentive you offer in writing, including the amount, payment date, and conditions, while keeping the recurring lease rent clear.

Avoid advertising a takeover when management requires a new lease. Give the prospect the same rent, term, and dates that Bettina will put in the application and signing documents.

Step 7 · Money

Separate the application policy from the price of leaving.

Bettina’s fee FAQ says it does not charge application or broker fees. Get a separate exit quote covering final rent, proposed transaction costs, any concession adjustment, moving, and security. Agree on the fee for any brokerage service you hire before marketing starts.

Confirm who holds your deposit, what the incoming renter must pay, and how final accounting will work. Under § 7-108, covered deposits or advances generally cannot exceed one month’s rent, subject to statutory exceptions. Request current instructions rather than relying on older extra-security wording.

Do not assume security can pay your final rent or privately promise to transfer it to the replacement. Compare any surrender offer with the full replacement-search cost and the obligations each agreement ends.

Step 8 · Finish the transfer

Confirm the signed release before handing over possession.

Check the agreement for the effective date, every departing tenant and guarantor, and any signing, payment, or possession conditions. Keep performing your lease until the agreed release takes effect.

Coordinate the move reservation, mover insurance, inspection, key return, utilities, and forwarding address. Photograph the apartment and keep the executed documents, final ledger, and security correspondence.

Bettina’s 48-hour statement starts after complete paperwork and certified checks arrive. Plan permission, the search, screening, signatures, and the move separately. Get revised dates in writing if any step slips.

Find a replacement renter

I can help turn management’s terms into a listing and a qualified applicant.

I prepare the listing, manage inquiries and showings, screen prospective renters, and help the selected applicant complete management’s requirements. Management makes the approval decision. My role and broker fee are agreed in writing before marketing starts.

Send the address, rent, lease end date, preferred move date, and management’s reply.

Discuss my lease

For the broader legal options, see the NYC lease-break guide.