Leasing from a distance
Renting Out Your NYC Apartment While You Live Abroad
Distance is manageable when five things are organized before the apartment is listed: access, signatures, the building, money and the person in charge after move-in.
1. Access and keys
Showings, the photographer, contractors and the move-in need someone who can open the door. Decide who holds keys: the doorman under the building’s rules, a trusted person, or your agent for the marketing period. Tell the managing agent in writing who is authorized.
2. Signatures and documents
The listing agreement, the lease, the building’s application forms and the required notices can generally be signed electronically, but some buildings ask for original or notarized documents. Ask the managing agent early. Keep a copy of your deed or stock certificate and proprietary lease, and of the building’s current leasing rules.
3. The building’s approval
Most condos and co-ops require an application, fees, references and sometimes an interview before a tenant can move in. When the owner is away, delays usually come from a missing owner signature or an unanswered board question, so plan to be reachable during that window. The board package, step by step
4. Money: deposit, rent and taxes
New York caps the security deposit at one month’s rent and requires its return, with an itemized statement, within 14 days after the tenant moves out. Decide where the deposit is held and how rent will be paid. Rental income from a US property is generally taxable in the United States, and possibly where you live; get advice from a tax professional who handles non-resident owners.
5. After move-in
Someone must answer the tenant when the dishwasher stops working, coordinate repairs with the building, and handle the renewal. This can be you, a person you trust, or a property manager. It is not part of the leasing assignment by default, so decide before you sign the lease. Who does what after signing
How Raphael works with owners who are away
- First meeting by video call, in English or French
- Written updates after showings and when applications arrive
- Coordination with the managing agent, the board and your representative on site
- Documents prepared for electronic signature whenever the building accepts it
For owners in France: louer votre appartement new-yorkais depuis la France. For owners who also own in Florida: RentMyCondoMiami covers leasing in Miami.