There are various reasons why you may need to sublet your apartment. Maybe you have the opportunity to take a fabulous vacation for an extended period of time, or you would like to move in with your significant other before your lease is up. You may have a new job opportunity in a different city, or you’re taking summer classes at an out-of-state university. Whatever the case may be, subletting your apartment is a great option if it is handled carefully and properly.
Here are some things to keep in mind that will help you in your subletting process:
–There is a proper protocol that must be followed in order to please all parties involved, including the landlord or property manager of the apartment. Most apartment lease contracts specify that sublease arrangements are allowed only with prior approval from the landlord, which can range from the subletting party going through an application process to the landlord accepting the new tenancy based on your word. Whatever the case is, do not proceed with a sublet unless you have the approval from your landlord. It is also important to get the approval of anyone else living in the apartment who has their name on the lease, as you need their permission as well.
–After conducting a proper sub lessee search, ask the chosen tenant for permission to do a background and credit check, just as a normal landlord would. You’ll want to look out for a low credit score or any outstanding loans that could raise a red flag that this person may not be able to uphold their end of the contract. A proper search would consist of relying on more than just word of mouth, and would include getting references and performing a personal interview with the candidates.
–Get everything in writing! It is incredibly important when it comes to protecting yourself to get everything in writing, as you are responsible for preparing a lease, setting the rent, determining the consequences for defaulting on the lease, and managing the property. You should use an attorney or broker to draft the lease agreement and to review the terms of the lease with the new tenant.
These are just a few tips on what to lookout for when subletting your apartment. If you need help finding a sublet apartment or a Boston apartment, contact a Warren Residential agent today.