If you live in a rent-stabilized or rent-controlled apartment in New York City, you may have a chance to get a buyout from your landlord. A buyout is when your landlord pays you a lump sum of money to leave your apartment voluntarily. This can be a tempting offer, especially if you want to move, need some extra cash, or you simply like free money.
How do you know how much your buyout is actually worth?
The truth is, there is no simple answer to this question. Buyouts can range from a few thousand dollars to millions of dollars, depending on many factors. Some of these factors include:
There are some online tools available to help make this calculation however, most buyout calculators are not enough to evaluate your buyout offer. It does not cover everything that affects the value of your lease and the potential of your buyout. For example, it does not factor in:
The online tools do not negotiate with experienced landlords dealing with rent stabilization laws and negotiations oftentimes for over 30 years.
That’s why many rent-stabilized and rent-controlled tenants rely on the help of Lease Buyout Advisors, a trusted team of experts who specialize in lease buyouts in New York City. We have over 18 years of experience in real estate and finance, and we represent tenants in rent stabilized and rent controlled apartments throughout the city. We can help you understand the true value of your lease, negotiate with your landlord on your behalf, and secure the highest possible buyout amount for you.
We use our proprietary internal algorithm to analyze over 30+ data points to determine the value of your lease and the potential of your buyout. These data points include property information, ownership information, market trends, legal regulations, tax implications, and more. We also use our knowledge and skills to negotiate with landlords and developers who may try to lowball you or pressure you into accepting a bad deal.
Our clients receive an average of 40% more than other tenants with similar leases. If you are interested in getting a buyout for your apartment, you can get a free evaluation from us today.
Find out your buyouts true value with our rent stabilized buyout calculator. How much is my buyout worth?