The Do's and Don'ts of Subletting
Subletting (or subleasing) refers to the act of a tenant renting out their apartment to another individual while still having their name on the lease. A sublet is a legally binding contract between two parties, and although the idea of saving money through this process may seem very inviting, there are many considerations that need to take place before doing so.
The Do’s
Prior to subletting your apartment, it is crucial that you speak with your landlord and make certain that they are aware of your decision. There are lease agreements that forbid subletting as a whole; if this is the case, it is recommended that you submit a written request to your landlord detailing your reason for subletting and how to make it possible. Even though it may not be required by the state to receive a landlord’s permission for a sublease, it is a significant step because secretly subletting may lead to future consequences including eviction.
If you decide to sublease, another “do” is that you carefully choose who you want to sublet your apartment to. If it happens to be that the subtenant does not pay rent on time or harms the property, it is the tenant’s responsibility because they are the ones to handle any issues related to the subtenant. Selectively choose someone who is trustworthy, accountable, and sensible to avoid losing money or even impairing your relationship with the landlord.
The Big Don’t
When you are deciding the rental price for your sublease, it is highly recommended that you don’t make the price higher than the amount of rent you pay to your landlord. The idea of making profit from your sublease may seem very tempting, but there are several complications that can come with charging more. In fact, there are areas that may not allow this action at all, so make sure you complete your research before considering this option. Tenants usually charge 70 to 80% of the normal rent that they pay.
If you are confused about subletting and would like to receive assistance, feel free to reach out to Tenants Law Firm by contacting us through this online form. We would be more than happy to help you.