A Quick Guide to Subletting Your Apartment
Whether you plan on studying abroad for a semester, going home for the summer, or graduating before the end of your lease term, subletting your apartment is a great way to help defer some of your rental costs while you are away. There can be pitfalls with subletting. To help prevent any problems and make the process as easy as possible, keep the following things in mind:
· Paperwork: Check with your Landlord to find out what paperwork they require to facilitate the subleasing process and obtain copies of any forms that will need to be completed.
· Fees: Inquire with the landlord if there are any fees associated with the sublet process.
· Rent: Discuss and document who will be responsible for what in terms of dates, keys, payment, cleaning, etc. Be sure to communicate with your roommates as well (if applicable).
· Utilities: Discuss who will be responsible for utilities and make any changes to utility accounts such as changing names ahead of time.
· Security Deposit & Damages: Since a sublease is an un-interrupted continuation of your lease, your Landlord may choose to continue to hold your security deposit and return the deposit to the sublessee. You may want to consider asking for a separate deposit from your sublessee to ensure any damages caused by them are covered. You will remain responsible for any damage & rent if the sublessee defaults. In addition, it is a good idea to take pictures of your apartment before the sublessee moves in and ask them to complete a move in inspection form.
· Liability: Since you will still be on the lease, if the sublessee defaults in rent you will be liable to make up and continue rent payments to avoid any negative rental/credit history.
· Communicate, Communicate, Communicate: The best advice when it comes to subleasing is to stay in communication with your Landlord, your sublessee, and your roommates if applicable. This will help prevent misunderstandings or mis-communications and will save you a lot of time in the long run!