When times are tough, and keeping up with the strict one-year lease agreement becomes too much, as a tenant, you can resort to making a sublease or sublet in order to pay the balances of your bills. And if you're new to the idea, here are some tips to help get you started.
In case you're not familiar with the term "sublease," Zillow defines it as an "'assignment' of the original lease agreement terms to a third-party who was not involved in the original agreement. This means that the subletter is not only responsible for the duties and obligations listed in the lease, but enjoys the rights and amenities as well. Accordingly, it is almost always necessary to run this plan past the landlord."
Get your landlord on board
The first thing you have to know when subleasing is if it is allowed by the landlord or the management handling your place, because almost all residential leases contain a clause on this matter. Therefore, you need to make sure if what you're planning is legal.
Usually, the landlord's consent will be provided in a written document in order to protect themselves from potential harm or damage caused by unapproved subletters. This also protects you, the tenant, in case the landlord tries to dodge a liability.
Understand all the legal matters
Because of the "privity of contract," you can't disregard the original signed agreement you have with your landlord, even though your sublease is already signed. This means that you have more responsibilities in your hand.
This is why in order to avoid potential headaches and even more responsibilities, make sure that your sublessee is a "reliable and dependable person," according to Zillow.
Have your agreements on paper
This is pretty straightforward: Nowadays, a man's word is not enough. You need to have all of the agreements in written form. This is in order to protect all the parties, and at the same time, hold everyone accountable for their respective roles.
Acquire a security deposit
Once the documents are signed, and the movers are almost good to go in bringing the things of your new subletter, you need to collect at least two months' rent for assurance.
