Well, renting a room or even an apartment can be pretty difficult at first. But well, although it is difficult, it is not impossible. There are many things to take care of while subletting a person to take your apartment. Well, here are things which will help you with the same.
How To Sublet Your Apartment
If you are living in an apartment or a house on rent, you will be the one to let that apartment.
Now, if the living expenses in the building are disturbing you and you are unable to cope with them in your budget, you can keep a sublet such as a roommate to share your expenses so that you will have a better financial condition.
Tips for subletting
Here are some tips which you need to make sure before directly keeping the sublet stay in your home.
1 – Check your Local Laws
You must be sure of the laws working around in your state. Well, this might be helpful since you need to be sure of the documents and the requirements to keep a tenant. Some countries also require tenants to fill some official documents in consideration to their landlords.
2 – Choose a Qualified Subtenant
Make sure that the person who is living under your roof is pretty much qualified to live there. Well, you will not want to nab him or her every time about the rent or even about anything else.
And this also helps in maintaining peace in the house. Well, you should also take care of what the person is doing.
If he or she is involved in some of those illegal activities or is having a criminal record at some of life for something big, it would be to suggest to make him live under the same roof as you.
3 – Request a Rent Deposit from your Subtenant
When you want to make someone live under your roof, you need to make sure that the person is good, and you also have to separate high-intent and high-quality tenants from others.
Well, one good way to do it is to ask for a pre-deposit of rent. You can ask him to deposit a sum beforehand to close the deal.
Well, the deposit can range from 10% of the rent to full rent, and in some cases, the landlords are also known to take three months’ rent beforehand.
4 – Finalize a Sublet Agreement
Well, this is the most important thing to do before taking a subtenant. You need to finalize the deal by legally closing a sublet agreement.
Make sure to sign up a legal document from your subtenant so that you won’t face any difficulty in any future and even make sure that you are known to the interests and disinterests of other people. This helps in protecting against any unforeseen disagreements.
At a minimum, make sure that your subtenant sign an agreement including basic terms such as the starting date, the ending date, monthly rent, average cost of utilities, the person who will pay for these utilities, what to do if one of the people wants to extend or shorten the period of lease or if the subtenant stops paying the rent.
5 – Get your landlord’s approval
Well, it indeed is important that your landlord would be aware of everything happening in his property.
If you are keeping a subtenant, it indeed is of great importance to make him aware of every possible situation, and even then, if required, make sure you pass a formal approval of the landlord in a documented form.
This might not be important if you are keeping the subtenant as a roommate, but this will be more important when you are renting the whole house again.
Well, either way, make sure to reach your landlord about the related policies and the information about the subtenant.
6 – Collect and store a security deposit
Accidents happen every time. Well, adults are more careful about everything that happens in a house, but bachelors and teenagers are more carefree about the place they are living in.
This carefreeness sometimes leads to accidents such as breaking of something and even damaging of the estate. Well, in either case, some small things can lead to big differences.
So, you need to make sure to have a security deposit beforehand in case of such activities to avoid any last-minute clash in such situations.
Well, you can ensure your subtenant if nothing as such happens, he will get back his security deposit at the end of the lease agreement period.
7 – Set up rent payments
Well, you will not want to poke your subtenant about the monthly rent payment on his first day of living.
Make sure that you decide properly on these things and agree on a periodic system for paying rents. This will make you happy, and he will be happy too.
8 – Sublease Agreement Template
There are plenty of websites online which will give you a free or a paid template to fill your lease with your subtenant. Well, you also can make your agreement on a formal paper.
The general sublet agreement template is mentioned below
Names of the Sublessor and Subtenant
If the subtenant in under 18, the name and confirmation of guardians should be taken into consideration.
Address of the premises, including the unit number.
Limit of Occupancy
The maximum number of occupants that can live there.
Term of lease
Information such as duration and the start and end time
Rent and Utilities
An agreement on sharing rent and utility charges among every person. This will help in avoiding any future disagreements related to renting and other financial problems.
A security deposit to help in case of any accidents happening in the apartment.
Terms and Condition
Any rules or regulations for living in the apartment that everyone has to follow.
Well, including the basic agreement, you also can attach the original lease document. So, here was pretty much everything you need to know for how to sublet your apartment.