Subletting one of the most basic and classic renting technique that allows the tenant of the property to make extra money when he or she is not occupying the property. It’s also a way for people to get out of the lease without hurting the landlord and the contract. Subletting is also most common during summertime or holiday occasions where tourists visit different locales and are in dire need of a place to stay in.
If you’re planning to sublet the property that you’re currently in then read the list below. In there we discussed the rules of subletting and how you can do it efficiently.
Learn your responsibility
Before stepping into subletting, you must first know your responsibility. The roles are reversed when you sublet. You’re the one who’s going to act as the landlord. You will be the one who’s going to manage the property and handle the finance. It can be a hard task so make sure that you’re up for it.
Talk to the (real) landlord
Some landlords do not accept subletting. It’s because they feel like the tenant is getting more money than them. Before you find a tenant, talk to your landlord first if it’s okay with him or her to sublet.
Create a sublease agreement
Everything should be on paper when you sublet. The next thing that you should do is to create a sublease agreement for you and your subtenant. The sublease agreement should include the dates of your absence, the subtenants’ responsibilities in maintaining the property good and clean, amount of security deposit, and pictures of the property before the sublet moved in.
Choose a good subtenant
These tips won’t work if you choose an irresponsible subtenant. Choose your subtenant wisely. Pick someone who has a stable job and has a good attitude. It will be better if you know the person who’s going to sublet since you’ll have an idea on what kind of person they are.
Know how much you will charge
Charge competitively but make sure to compare the prices to your competitions. Make your subtenant feel like he or she is getting a better deal from you. Pay for the utilities if it fits the budget as a bonus for the subtenant.
Consider a security deposit
Make sure to get a loan from your subtenant. Remember the loan that you gave to your landlord. The security deposit will make sure that there will be money to be used in case that there are any damages or misconduct during the whole leasing agreement.
Sublet with these guidelines in hand and we are sure that you’ll never get lost!
