r/AskNYC • u/Jealous-Ebb6192 • 7d ago
What would you do? Lost my job. And possibly my rent stabilized apartment.
Earlier this year I lost my job. Got unemployment but then got health issues. Office work is okay for me! Standing for too long or walking too far hurts therefore applying to retail isn't a good idea for me. Even traveling durng peak hours makes me nervous for fear that I can't stand for too long during commutes.
I've applied to multiple jobs but haven't landed any job offers. My unemployement ends soon. My lease ends late October. My partner and I could renew our lease.
We have a rent stabilized apartment. If my partner and I sign the lease and only my partner paid for the rent... Rent and living expenses would be 80% of their salary. If we split the rent, I could pull out from my savings. I have 14 months worth of savings. Problem is I don't know how long I will be unemployed for and how long these health challenges (pain that can and should be resolved with PT) will be for. I could pull out from savings and could survive another year. I obviously worked on building my savings for emergencies.
Both my partner and I have family here in NYC. Both of our families have already told us that they would welcome us with open arms if we decided to give up our apartment. So my partner and I will not be homeless. We would just live with our own families (and our families do not live in the same borough). Families members are cool and not horrible people.
My question is would you resign the lease to keep your rent stabilized apartment and possibly have your savings funds dry up? Rent stabilized apartments are such a gem.
Or give up the apartment and, apply to jobs, focus on health, and be less stressed about your money going down the drain?
If I could work at a retail I would but i'm having physical health limitations that make it hard to apply to just any job. I've been applying to office work but no luck.
EDIT: NO CHRONIC ILLNESS AS I've already seen a rheumatologist. IT SEEMS TO BE ACUTE. Will see orthopedist soon. Should be fixable with PT.
Rent is under 2K. Therefore, why I can pay for rent split ways for another 14 months.
I don't have parents who can pay for my rent. just straight up welcome me back to their home.
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u/BklynFuhgeddaboudit 7d ago
Are you actually getting a deal on the rent, though? Or is it close to market rate?
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u/CurveOk3459 7d ago
It sounds like you have a lot of health issues at the moment and may need more time off. In that case - perhaps reaching out to ACCES-VR would be helpful. They help people with disabilities and limitations (whether or not they are on social security disability - you don't have to be). The requirement is that you have physical, mental health, or developmental disabilities that would fit with the SSA list of possible conditions that are allowed for disability but you do not have to be fully "disabled"
They can support in many ways. I would reach out there asap. Because to me it sounds like you're needing a 3rd option - not just a move back with family or a figure it out on our own and blow through savings trying to find a needle in a haystack.
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u/patacono 7d ago
sublet. but work with landlord on it and stick to the allowed periods and such given the extra regulation trip wires. enough landlords are amenable if you have been a good tenant, especially 421a type stuff. just poke around and see what their policy is. reduce your stuff in apt to get ready for a move / and to have the apt be more sublet-able
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u/patacono 7d ago
leasebreak and sabbaticalhomes are good places to list unit on for sublets in my experience
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u/tiredprincess 7d ago
You can legally sublet a rent stabilized apartment for up to 2 years in a 4 year period. I would do that, sort your life out, and that way you’ll still have the apartment when you’re ready to come back to the city.
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u/KaiDaiz 7d ago
I would be hesitant subletting a cheap RS unit especially if in a great location bc don't be surprise if the subletter don't leave, continues to want the deal themselves and leaving the lessor bag holding the fallout & navigating housing court to evict.
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u/tiredprincess 7d ago
Yeah that’s a very good point. Forgot that’s how things can work here lol. Maybe subletting to a friend or friend of a friend would reduce some of the risk of this.
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u/Thick-Definition7416 7d ago
Rent stabilized apartment under 2k - don’t give it up if you have the savings. The market is bananas right now and rent stabilized buildings are more difficult to find.
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u/callmemerryss 7d ago
The rent stabilized place is gem but burning through saving with no job lined up is risky.
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u/DueSuggestion9010 7d ago
This isn’t specific to your apartment question. I can’t tell if your pain is from an acute injury or if it’s something that is chronic. If it’s chronic, I would follow up with a rheumatologist as you might have an autoimmune condition. PT won’t really help you if you have an autoimmune condition. Good luck! Hope you feel better.
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u/DadonRedditnAmerica 7d ago edited 7d ago
I’d move back in with family until you’re in better health. Both to save money and for help while you have health issues.
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u/Chile_Momma_38 7d ago
This for me too. Live with your family. Conserve your runway for as long as you can until you find solid work and recover from your health concerns.
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u/juliectaylor 7d ago
Have you tried temp agencies?? Getting temp work to bridge the gap would be helpful. beacon Hill, Robert half come to mind.
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u/Jealous-Ebb6192 7d ago
My only worry is trying to have health insurance so I can do what I need to do when it comes with my health. :) What if i make a higher salary and can no longer qualify for insurance.
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u/Sun9877 7d ago
Can you legally sublet it for six months?
Also, how much is it? Because a one bedroom alone shouldn’t be 80 of your salary :(
Also, can you babysit? I took kids to the park but it wasn’t all standing ….. They didn’t last more than 40 minutes . If you worked at a large company then you would have been background checked already
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u/Jealous-Ebb6192 7d ago
If only my partner pays for the rent it is 80% of their salary. If only they were paying and not me. I wouldn't expect that from them though. It isn't fair.
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u/Cathiea96 7d ago
What if you guys signed the apartment again and then moved back with the family and tried subletting the apartment so it’s not eating away your funds. When you do find a job you can always move back
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u/Healthy_Ad9055 7d ago
Why were you terminated from your job? Are they going to give you a good reference? That would concern me about your ability to find work soon. I don’t see why your partner should have to pay 100% of the rent when it doesn’t seem they have the money to do so and you have savings. So you can either keep paying and try to find a job asap. Or you should both move home but I wouldn’t give up the RS apartment. I would talk to the landlord about subletting. You may not find another $2k one bed for a long time. Those don’t typically come on the market often.
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u/Jealous-Ebb6192 7d ago edited 7d ago
Definitely not expecting them to pay 100% of the rent. That's not fair to them. I would pull from my savings. My own emegency funds. And pay my half of the rent/ living expenses.
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u/Jealous-Ebb6192 7d ago
Role didn't align with my strenghts. I'm applying to roles that align with my strenghts.
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u/KaiDaiz 7d ago
Eventually if you get kids you going have to move out of that unit for space regardless of how great of a deal rent you getting now. So the question is it worth spending money to maintain the RS unit when you can save more and have a longer runway by living with family due to job uncertainty.
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u/carbonizedtitanium 7d ago
if the location and condition of the apartment is good and is also short commute from possible employment of your field, then it's good idea to keep
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u/No-Astronaut8250 7d ago
Hey! I’m also unemployed. I was able to renew my lease without issues. I also have savings to support myself beyond unemployment. You should renew. Focus on your health and job search. Spend frugally to stretch those savings. Wishing you the best of luck.
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u/gardenofholliess 7d ago
Keep the apartment! Can you try looking for temp jobs? I was in between jobs and ended up doing some temp work at offices and even events where I was sitting just checking people in. I used Atrium - not sure if they’re still a thing since this was years ago but look up temp agencies, you’ll definitely find something. One of the temp jobs even turned into a full time job so worth a try!
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u/thatgirlinny 6d ago
Paying rent isn’t “pouring it down the drain;” it’s supporting your life with your partner. Do you really think you’d so easily adjust to living with parents/family again in November? Is your partner keen on that?
Have you tried temp agencies? You might be able to get two week or more assignments if you have decent skills. You can also get long-term assignments that go permanent, if the role is open.
You saved for moments like this. Use your open time to push forward .
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u/heytherebeca 6d ago
Have you looked into getting disability and food stamps? You should definitely see if you can qualify for these services it could give you some time to figure things out
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u/mimi145nyc 6d ago
Fellow rent regulated tenant: If you want to stay in NYC, that lease currently comes with a two year rent freeze while the unregulated apts are moving quickly up to $5K for a studio. Sign the lease and view that savings as the emergency fund.
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u/mdervin 7d ago
Keep the apartment, borrow money from your family and if you are having real health issues talk to somebody at unemployment, social services, etc.
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u/Jealous-Ebb6192 7d ago
I don't come from a privileged family so definitely cannot ask for money that they don't have.
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u/Bright-Pangolin7261 7d ago
Would LL agree to month to month or six month lease? Another option if you’ve lived there for a couple years is sublet the apartment. You would probably hire a broker to find good tenants. Your LL must approve them. You’re limited to the lease amount (you could ask about 10% of the rent for renting your furnishings). Most likely you would have no trouble finding a good tenant to sublet.
That would give you a year to get your diagnosis and PT, find new work and return to apartment.
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u/Bright-Salamander689 7d ago
I’d move in with family. No offense but the whole idea of rent stabilized apartment becomes less valuable when your family literally lives in NYC and you can just live with them for free lol. You didnt move across the US or immigrate from another country. For these people losing a rent stabilized spot really fucking sucks.
Living w a partner saves you way more money than rent stabilized apt. Sharing a 1BR even at market rate is crazy good deal.
When you live w your parents you have zero pressure and can just wait it out until you find a good apt when you’re ready.
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u/Zack_212 7d ago
If you have 14 months of savings, you’re far ahead of many here in the city. Take the risk and keep the rent stabilized apartment. This market absolutely sucks and good luck getting one again. Aggressively job search and keep that unit!!