Subleasing is a great way to recoup rent costs when you don’t want to give up your rental, but you need to leave the area for an extended period of time.
For instance, if you are a college student that is renting an apartment and planning on going back home for the summer to visit family, subleasing your apartment means that you not only provide short-term housing for someone else, but you don’t necessarily have to worry about rent costs while you’re not living in your apartment.
While subleasing has its benefits, you probably have questions that need answering before you decide whether it is the right option for you. This post goes through some frequently-asked questions about subleasing so you can be confident with your final decision.
Related documents: Residential Sublease Agreement
Do I Need my Landlord’s Permission to Sublease?
Generally, your landlord needs to give you permission to sublease. The original lease (the one you signed when you agreed to rent the residential property) typically indicates whether the landlord has given you permission to sublease, but not all leases include this information. If your lease doesn’t mention subleasing, it is usually still allowed, but it’s important to check with your landlord and consult your local jurisdiction’s tenancy laws.
You and your landlord may also be required to fill out and sign a Landlord’s Consent to Sublease if the original lease didn’t contain any sublease terms and your local tenancy laws require further documentation. In addition, your landlord may be required to sign the sublease agreement.
Does the Original Lease Agreement Apply to a Sublease?
The original lease typically always applies to subleased property, so it’s your responsibility as a sublandlord (the person subleasing property to someone else) to attach a copy of the original lease to your Residential Sublease Agreement so your subtenant (the person subleasing from you) knows their rights and obligations.
Another important thing to keep in mind is that you can’t sublease the property to someone else for longer than the original lease. In other words, if the original lease says that you’re renting the property for one year and you’ve already lived there for six months, you can only sublease the property for a maximum of six months to someone else.
How Much Can I Charge Someone to Sublease my Rental?
Typically, you cannot charge more than what you currently pay for rent to a subtenant. For instance, if you pay $1000 per month for rent for the entire property, and you want to charge your subtenant $1200 (perhaps to get some sort of profit for yourself), then you would most likely be breaching the terms in the original lease agreement, as well as your local jurisdiction’s tenancy laws.
Subleasing Your Rental Property
Subleasing is a great way to recoup rental costs on a property that you won’t be living in for a short period of time, but it’s important to be aware of the rules surrounding it before you decide if it’s the right solution for you. The best course of action is to discuss subleasing with your landlord before you draft your own sublease agreement so that you can be sure you are doing your due diligence before starting the sublease process.