Subleasing, sometimes also referred to as subletting, is a contract in which a tenant rents out their apartment to a sublessor while the original lease is still in the tenant’s name. The tenant, in this case, is known as the sublessor. On the other hand, the new tenant is called a sublessee. Subleasing provides tenants with a great way to rent out their leased apartments without getting out of the original lease agreement.
Subleasing is different from renting out a room to other people. Usually, when a tenant rents out a room or a part of an apartment to another individual, the lease will reflect the name of both individuals on it. In a subleasing arrangement, there are two agreements. The original agreement is between the tenant, or lessee, and the landlord, the lessor. The second arrangement is between the tenant, the sublessor, and the new tenant, in this case, the sublessee.
When it comes to subleasing an apartment, tenants have many options. However, there are some tips they must follow to ascertain they follow the best way to sublease it. The tips related to the best way to sublease an apartment are as below.
Checking the original lease agreement
The first thing that any tenant should do before trying to sublease an apartment is to check whether the original lease agreement allows a sublease. Some landlords may not allow tenants to sublease their apartments. In some other cases, the local laws of a city or community may not allow sublease agreements. Similarly, some lease agreements may come with some restrictions related to subleasing while still allowing it.
Therefore, sublessors must first consider the terms and conditions of their original leases before even starting the subleasing process. Usually, the clauses related to subleasing are a part of lease contracts. Even if there are no clauses in the contract, related to subleasing, it doesn’t mean it allows the tenant to sublease. The tenant should still contact the landlord and discuss the matter beforehand. If the tenant is sure they can sublease, then they can move to the next step.
Discussing with landlord
Even if the original lease agreement allows tenants to sublease an apartment, it is always a good idea for them to contact their landlord first. Some landlords may have several reservations regarding sublease and rightfully so because it is their property after all. Some landlords may not mind a sublease as long as the new tenants follow the rules of the original lease as well. However, sublessors should always get permission from the landlord before proceeding. It may also be a good idea to obtain permission in writing.
Discussing it with the landlord also serves as a notification to the landlord about the tenant’s decision to sublease. While the landlord will only directly deal with the original tenant, they will still want to know who is living in their apartment. It is also a good idea to notify them because they may have some additional requirements or requests related to who can live in their apartment.
Finding the right sublessee
Once the legal stuff is out of the way, tenants can focus on finding the right sublessee to sublease the apartment. Finding a suitable candidate to sublease can be a long and tedious process. However, there are some steps that tenants can take that can help them make the process easier and shorter. The first thing tenants should do is advertise the apartment and describe its features. It may also be a good idea to post advertisements on social media websites or other platforms such as Craigslist.
Once there are some candidates to choose from, tenants should separate the ones that are most suited to the sublease and will not be a problem to deal with later on. Tenants may also need to consider the requirements of landlords as well. Tenants should consider some main factors such as income, employment, lifestyle and criminal records of the candidates, among other things.
Completing the sublease
Once the tenant chooses a suitable candidate to sublease to, the deal can be closed. That will include a new contract between the original tenant, or the sublessor, and the new tenant, the sublessee. Sublessors can use the contract as a way to impose restrictions on the sublessee and also define the general terms of the sublease. It is also a good idea for sublessors to include clauses from the original lease agreement in the new one.
Usually, the sublease agreement will define different aspects of the lease such as the lease, total amount of sublease, forms of acceptable payments, length of the sublease, etc. Including this information and any other relevant clauses can help the sublessor in case anything goes wrong. It also assists sublessees to understand their responsibilities in the sublease.
Subleasing allows tenants to lease the property to a new tenant. It is different from simply renting a room to an individual. There are some tips that tenants must follow to ensure the best way to sublease the apartment. First, they must check the original lease agreement to ascertain it allows subleasing. They should also discuss with the landlord before subleasing. After that, they must find the right sublessee through a proper selection process. Once everything is in order, they can complete the sublease and close the deal.