The short answer
Start by asking your Ogden CAP management office for the lease-assignment package. You find the replacement tenant, Ogden CAP handles the application and approval, and the parties complete the assignment before the new tenant takes over. The process below uses Normandie Court as a real-world example.
Step 1 · Request the package
Ask management before you advertise the apartment.
Tell your Ogden CAP management contact that you want to assign your lease and give them your preferred takeover date. Ask for the package and confirm the rent, remaining lease term, application instructions, and building move procedures in writing.
Email template
“I would like to request a lease assignment for apartment [number] at [Ogden CAP property], with a preferred effective date of [date]. Please send the assignment package and confirm the rent, remaining lease term, applicant requirements, security-deposit process, and move procedures.”
Step 2 · Check qualification
The applicant needs 50× the rent and good credit.
Ogden CAP's 50× applicant standard is stricter than the 40× annual income benchmark commonly used for NYC rentals. A personal guarantor must earn 80 times the monthly rent, which is the more familiar NYC guarantor benchmark, and must complete a separate application. The instructions call for good credit without listing a minimum score.
| Monthly rent | Applicant income | Guarantor income |
|---|---|---|
| $4,000 | $200,000 per year | $320,000 per year |
| $5,000 | $250,000 per year | $400,000 per year |
| $6,000 | $300,000 per year | $480,000 per year |
If two people are applying together, or an applicant has bonuses, freelance income, or other nonstandard compensation, ask management how it will count that income before applying.
Check your numbers
Calculate the income requirements and application costs.
Enter the apartment's monthly rent and the number of people who will apply.
Use your actual rent
Calculate the income requirements and total fees.
The applicant requirement is 50× the monthly rent. A personal guarantor must earn 80× the monthly rent. Fees are $750 plus $20 for each applicant and guarantor.
Step 3 · Apply
Ogden CAP sends each person a separate online application.
Once you choose a candidate, send management the full name and email address of every applicant. Ogden CAP then emails the application link directly. A personal guarantor must follow the same process.
Pre-screen
Confirm income, credit readiness, documents, timing, and whether a guarantor is needed.
Send the details
Give management each person's full legal name and correct email address.
Complete every file
The review cannot finish until every applicant and guarantor has submitted the application.
Documents to have ready
- Photo ID: a current photo ID for each new applicant.
- Bank statement: the first page of the latest bank statement.
- Paystubs: the two most recent paystubs, when applicable.
- Employment letter: a letter confirming salary or income.
Money and fees
Plan for the $750 assignment fee and $20 per application.
The assignment fee is nonrefundable and is due when the applicant applies. Each applicant pays a separate nonrefundable $20 application fee. A guarantor counts as one more application.
| Application | Assignment fee | Application fees | Total |
|---|---|---|---|
| One applicant | $750 | $20 | $770 |
| Two applicants | $750 | $40 | $790 |
| One applicant + guarantor | $750 | $40 | $790 |
The total is the $750 assignment fee plus $20 for each applicant and guarantor. Brokerage or moving costs are separate when applicable.
Step 4 · Find the new tenant
A strong listing sells the apartment and sets clear expectations.
Lead with what is specific to the apartment: rent, layout, light, views, condition, remaining lease term, and proposed takeover date. At Normandie Court, for example, the Upper East Side location, doorman service, on-site management, rooftop health club, and access to the Q and 6 trains are useful selling points.
The listing should clearly state that this is a lease assignment subject to Ogden CAP approval. Pre-screening for the 50× income requirement prevents an interested renter from becoming an application that management cannot approve.
Step 5 · Sign and hand off
Do not schedule the move until the assignment is complete.
You can request an effective date, but it is not final until management approves the applicant and the required documents are signed. Before anyone exchanges keys or takes possession, confirm the following in writing:
Plan for an as-is handoff.
As with many lease assignments, the incoming tenant takes the apartment in its existing condition rather than receiving a standard turnover from management. The outgoing and incoming tenants should coordinate professional cleaning, furniture or fixtures, wall patching, condition photos, access, and keys directly with each other.
- The date the outgoing tenant's responsibility ends.
- The date the incoming tenant's responsibility begins.
- How the security deposit and any prorated rent will be handled.
- The rules for keys, insurance, movers, and building access.
- Whether the apartment will be accepted in its current condition.
Important: moving out or finding a qualified applicant does not end your lease responsibility. The completed assignment should state the final release date.
Process overview
Five stages from the package to the handoff.
- 1
Confirm the terms
Request the current package, rent, remaining term, fees, requirements, and preferred effective date.
- 2
Find the right applicant
Market the apartment and pre-screen for income, credit readiness, documents, and timing.
- 3
Complete the applications
Management sends each applicant and guarantor an online application link.
- 4
Receive approval and sign
The applicants submit their documents and fees, and the parties complete the assignment paperwork.
- 5
Coordinate the handoff
Confirm responsibility dates, security, proration, apartment condition, keys, and the move.
What I help with
The goal is a qualified applicant and a smooth handoff.
If we work together, we sign a marketing agreement that explains my role and brokerage fee. I prepare the listing, handle inquiries and showings, pre-screen candidates, and help the selected applicant prepare for management's process.
Ogden CAP makes the approval decision. I keep the search, application, and handoff moving so that neither side is left wondering what comes next. See the lease-assignment and replacement-tenant service for more details.
The office handles the formal application, approval, and assignment documents. Having guided this process many times, I also watch the informal details management typically does not coordinate, including condition expectations, professional cleaning, items staying or leaving, access, timing, and the key handoff, so small loose ends do not slow down the move.
For options beyond an Ogden CAP assignment, read the complete NYC lease-break guide.
Frequently asked questions
Ogden CAP lease-assignment questions.
Does Ogden CAP allow lease assignments?
Yes. Ogden CAP has a lease-assignment process in which the outgoing tenant finds a replacement, the office sends the candidate an online application, and the assignment moves forward after approval and signing. This guide uses Normandie Court as the example.
What is the Ogden CAP lease-assignment fee?
Ogden CAP’s lease-assignment instructions list a nonrefundable $750 fee, due when the applicant applies.
How much is the application fee?
Each applicant pays a nonrefundable $20 application fee. A personal guarantor must also complete an application and pay a separate $20 fee.
How much income does an applicant need?
An applicant must earn annual income equal to 50 times the monthly rent and have good credit. At $5,000 per month, the income requirement is $250,000 per year. This is stricter than the 40× income benchmark commonly used for NYC rentals.
What does a personal guarantor need?
A personal guarantor must earn annual income equal to 80 times the monthly rent. The guarantor completes the same online application process and pays a separate $20 application fee.
What documents does the applicant submit?
Management asks for a photo ID, the first page of the applicant’s latest bank statement, and income verification. Income documents may include the two most recent paystubs, an employment letter stating salary or income, or both.
What credit score does Ogden CAP require?
The assignment instructions call for good credit but do not give a minimum score. Ogden CAP makes the final decision after reviewing the complete application.
How long does an Ogden CAP lease assignment take?
Ogden CAP does not state a standard turnaround time in the assignment instructions. The timing depends on complete applications, document review, fee payment, approval, signing and the building’s move procedures.
When does the outgoing tenant stop being responsible?
The completed assignment should state the date the outgoing tenant’s responsibility ends. Moving out, finding an applicant or receiving an initial approval does not by itself end the lease.
Is an Ogden CAP lease assignment an as-is handoff?
Yes. As with many lease assignments, the incoming tenant accepts the apartment in its existing condition. Professional cleaning, furniture, wall patching, condition photos, access and keys should be coordinated directly between the outgoing and incoming tenants unless the office gives different instructions.
Sources
Where these requirements come from.
- Current Ogden CAP lease-assignment instructions obtained directly from the management office in the course of my brokerage work
- Ogden CAP Properties: Normandie Court
- Ogden CAP Properties: resident services
- New York Real Property Law § 226-b
Reviewed October 15, 2026. Normandie Court is the worked example, but the application, income, guarantor, document, and fee requirements described here come from Ogden CAP's assignment process. Building contacts and move procedures may differ by property.
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