The Ins and Outs of Subletting Your Apartment
At times, life can throw a wrench into the plans that you had made. This often leads to an increase in your stress levels, or on the flip-side, a change in plans can lead to achieving a goal that you had worked so hard to reach. Either way, if you have a lease that has yet to expire, it can cause you to miss out on an opportunity or cause a financial hardship. However, this does not have to be the only possible outcomes, as you may be able to sublet your current residence, which can reduce your stress levels and allow you to take advantage of a new life adventure. If you are curious about pursuing a subleasing arrangement, there are a few things you should explore in order to obtain the best outcome possible.
Check Your Lease
If you have entered into a legal agreement to lease your current place for a set amount of time, it can be difficult to get out of such a binding contract. Even if you have leased places in the past, each lease can be different. It is a good idea to consult the limitations that are placed on you in regards to subletting your apartment. Some leases will have separate sections that specifically address subletting, while others may not mention it at all.
In any case, the folks over at RentLingo recommend checking with your landlord or property management company before you begin searching for someone to take over the remaining time on your lease. If either your lease or landlord forbid subletting, it may be worthwhile to plead your case to your landlord or property manager. Be sure to offer to take responsibility to locate and vet a new tenant to cover the remaining time on your lease. Upon receiving the green light to sublet your apartment, make sure to get written permission from your current landlord, as this can reduce confusion and headaches in the future.
Find a Reliable and Trustworthy Person
So, you were able to get the go-ahead and sublet your apartment, which is a hurdle in and of itself, but the most challenging part may still remain in front of you, as you will be tasked with finding a replacement tenant to take over your lease. It can be a difficult step, even if you are turning to a friend or family member to sublet your apartment.
You will want to find someone who will treat the place with respect and care, while also being timely with the rent. It is best to plan as much in advance of your move as possible. You don’t want to be left scrambling to find someone, who may or may not be the best fit for your housing needs. If you run out of people in your family or social circle, you may want to advertise on places such as Facebook and Craigslist. Do your best to spell out exactly what you are looking for in a sub-letter, as well as the rules and regulations that your current landlord has placed in the lease.
Document, Document, Document
In addition to getting approval from your current landlord or property management company to sublet your apartment, it is recommended by the property experts over at Trulia to enter into a written agreement with the person(s) that you have found to take over your lease. After all, a subletting agreement should hold all of the weight as a typical lease, which also includes obtaining a deposit, if applicable. Prior to handing off the keys to the new tenant, you should take plenty of photographs of the state and condition of the premises. This can help to reduce the likelihood of headaches if the sub-letter leaves the property in poor condition.
Conclusion
Life can be full of unknowns, with many of them presenting at times that are less than ideal, such as in the middle of your lease. However, if subletting your current apartment is an option, you may not have to pass up on the opportunities that pop up.
Keep in mind that even though we use the terms “subletting” and “subleasing” interchangeably, they can mean different things. Subletting often means the person does not take over the lease so you’re ultimately responsible for the apartment still. Subleasing would replace your name on the lease with theirs.
Through taking the time to properly vet potential replacement tenants and documenting each step of the way, you can help to ensure that the new tenant and your current landlord are equally pleased with the arrangement.
References
Apartments.com. (2007). Subletting Your Apartment: A How-to Guide. Retrieved from https://www.apartments.com/blog/subletting-your-apartment
RentLingo. (n.d.). Subletting An Apartment – Tips & Watch Outs. Retrieved from https://www.rentlingo.com/subletting-an-apartment
Trulia. (n.d.). How to Sublet Your Apartment. Retrieved from https://www.forbes.com/sites/trulia/2014/07/18/how-to-sublet-your-apartment/#368169651bff
