More New Yorkers turn to sublets

More New Yorkers, both homeowners and renters, are leasing or subletting their apartments as they lose their
jobs or portions of their incomes, even if they have to pick up broker
fees or lease their apartments for less than they need to pay mortgage
and maintenance fees. The number of furnished apartments in Halstead
Property’s database rose more than 50 percent in the first six months
of this year, compared to the same period in 2008. Gary Malin,
president of Citi Habitats, said most brokers spend little time on
sublets because they are not as lucrative and because owners fail to
price their properties well and often want to sublet without the
approval of building boards.