Breaking a Stellar Management Lease: Assignment or Sublet?

Step 1 · Permission

Ask your property manager for the apartment’s exit options.

Use the representative on your current tenancy notices. For routing, Stellar’s main office lists 212-406-0030. Include the unit, leaseholders, current lease end, and preferred departure.

Say whether everyone leaves, one roommate changes, or you intend to return. Follow your lease’s notice method and ask who coordinates the account, incoming review, consent, and release.

Step 2 · Written terms

Get the approved offer and the old lease’s end together.

• Rent and dates: approved price, remaining term or new lease, concessions, charges, and start conditions.
• Application: current criteria, checklist, submission link, and review contact.
• Costs: itemized charges, final rent, security, credits, and refund conditions.
• Release: when each departing tenant’s and guarantor’s obligations end.

If you are considering another Stellar apartment, ask how the old tenancy will end alongside the new agreement, including any rent overlap and separate deposits.

Assignment or sublet?

Choose a permanent replacement or a temporary arrangement.

Assignment and subletting follow different New York consent rules. Rent-regulated and admission-restricted apartments can have additional rules or exclusions. Confirm the procedure for the actual unit before offering either route.

Step 3 · Qualification

Check the rental-guide baseline and the requirements for your unit.

The ordinary rental guide lists applicant income at 40 times monthly rent and personal-guarantor income at 80 times, with U.S. residency for personal guarantors. Ask how combined incomes, accepted records, and approved third-party alternatives apply to this household.

Confirm any housing-program requirements and lawful alternatives. Check the candidate’s dates, desired term, occupants, pets, guarantor needs, and document readiness before starting the application.

Step 4 · Application

Prepare the documents and track review through final signing.

Stellar’s checklist includes photo ID, employment verification, three pay stubs, two months of bank statements, two years of full tax returns, and a landlord reference. It also calls for renter’s insurance before move-in. Get the current package and accepted alternatives for your unit.

• Match the apartment, approved rent, term, proposed start, and all household roles.
• Have candidates submit requested records directly through the designated channel.
• Confirm missing items, completeness, and the applicant decision.
• Track all signatures, required payments, owner execution, and the outgoing release before possession.

Ask which step is next and who confirms completion. Keep the incoming application coordinated with your exit; an applicant decision alone does not settle the old agreement.

Step 5 · Find the replacement

Use an authorized listing and accurate apartment photos.

Stellar’s guide requires written authorization to reuse its marketing materials. Agree on who may list the unit and use approved terms and images of the actual apartment.

• Terms: approved rent, dates, concessions, charges, and applicant requirements.
• Access: showing notice, hours, attendance, and key handling.
• Preparation: clearing, cleaning, repairs, and furniture staying.
• Incentives: any outgoing payment documented separately from owner rent.

Keep possession conditional on approval, signatures, payments, and readiness. Use candidate feedback to request an authorized change before revising price or dates.

Fees and security

Get the complete exit cost and separate the deposits.

Ask for an itemized assignment or termination proposal, including each amount’s purpose, payee, due date, and refund conditions. Confirm what happens if the candidate withdraws or signing is delayed.

• Final rent: your last day charged and any agreed proration.
• Security: outgoing refund or credit, incoming deposit, and deductions.
• Account: outstanding charges, approved credits, and the final balance.
• Services: moving costs and permitted brokerage work agreed in writing.

The rental guide lists a $20 application fee. For covered screening, New York law limits reimbursement to actual cost or $20, whichever is less, with report, receipt, and recent-report waiver requirements.

Approval and handoff

Align the signed release with the building’s move arrangements.

Coordinate approval, signatures, required payments, readiness, and possession. Ask management to confirm that the conditions for releasing you have been met.

• Check the executed agreement for each departing tenant and guarantor.
• Schedule move access with the Resident Services Coordinator and request current mover-insurance requirements.
• Photograph the condition and arrange keys, fobs, and utilities.
• Provide forwarding details and retain the final ledger and security accounting.

Keep the signed agreements and completion confirmation. If execution or possession changes, update the written plan before handing over keys.

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.