When it’s time to move, yet you still have some months left on your lease, subletting would truly come to save you. Job transfer, vacation, or merely a temporary change be this situation for you-and understanding How to Sublease correctly will save you from any potential legal or financial troubles. Let’s face it: Subletting is not merely handing over the keys and hoping for the best. It entails much planning and paperwork and, of course, the most important factor: getting a responsible subtenant who won’t turn your apartment into a circus.
This guide is aimed at providing you direction with everything needed to master your skill for a successful sublet—minus the tenant-from-hell parts.
Subleasing refers to the situation where a tenant rents out his leased properties to another party and yet remains liable for the lease. In simple words, you would still be liable should your subtenant decide to abandon the payment of rent or cause any damage. It is like being a landlord san the benefits of owning the place.
A sublease gives you a meaning different from lease assignment, as the latter means new tenants take the lease entirely. Therefore, before you get too excited about this, it is time to consider the risks and responsibilities involved.
Review your lease agreement before drafting any sublease agreement or before putting your rental online to know if subleasing is allowed. Some landlords do not permit subleasing, while others demand written consent. If the lease is vague about anything, the best course of action is to discuss it with your landlord.
By making a request that has all the bells and whistles about it boosts the odds of an approval for you. Moreover, this also places your landlord at ease, knowing that the potential renter is someone you know and is not some stranger walking in to turn the property into a frat house.
A verbal handshake is not going to hold up in court; you need a legally binding agreement to protect both you and the subtenant. Particularly, a sublease should have the following components:
A well-structured contract reduces the chances of misunderstandings and provides a complete legal position. It also helps to avoid the unnecessary embarrassment that may arise when your subtenant assumes that keeping a pet python is considered normal.
The ideal tenant is someone who pays their rent on time, respects your space, and will not be having questionable house parties. Here is how to find a trustworthy subtenant:
A subletter who plays his part is like the cream in the coffee of your rental life; a toxic subletter is like the worst-behaved child; and a subletter who doesn’t pay rent on time or who destroys the apartment is a nasty and venomous little stain.
The security deposit has a purpose beyond covering damages; rather, it serves as proof of seriousness on the part of the subtenant. Be sure to include:
This backing has been put aside and used in case of a burst. Please trust that not even the dawn has ever gone as planned.
As soon as someone is found to take over the lease, they will fill out an application completely, have information about bad habits, and have a record of finances on hand.
You might think it is an unnecessary hassle, but missing these steps could cause even bigger problems in the future.
Once you’ve confirmed and signed the lease agreement in place and collected the initial one calendar month and the security deposit, it’s time to release the keys. But there is one thing left to state.
Keep the lines of communication open, even after the subtenant has moved in. After all, since you still are liable for the lease, it may be nice to just check in now and then to see that everything is going well.
Your subtenant might be responsible, but things can still go sideways. Regularly:
In maintaining good standing with the landlord, it is always better to be preventative about the chances of an unwelcome eviction notice than compromise.
If planning out correctly and abiding by the law, putting a sublease in place can help you avoid unwanted legal entanglements and have someone pay rent on your behalf. With the following outline, you will be able to keep stress to a minimum while making your way through the necessary steps.
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