I live in nyc and I'm moving into a new place with my boyfriend since it is a financial burden to continue paying for my apt on my own (I am making $60k less than I was last year).
I have found someone with good credit and references to takeover the remainder of my lease as a lease reassignment for the remaining 5 months on my lease and they've also agreed to pay $150 more per month than I am paying.
Unfortunately, my landlord is refusing to accept the new tenant until I agree to pay a penalty of two months rent. This penalty is is not outlined in my lease and seems especially egregious to me since:
a) the new tenant will move in immediately and there will be no loss of rent to the landlord
b) the new tenant is willing to pay more rent than me.
Is this legal for them to demand such a huge penalty in this case??
1 Answer from Attorneys
No, it's not. More importantly, the landlord no longer has the right to look to you for payment of rent. Landlord owes you your security deposit.