What is subletting and how do you sublet your place?
Looking to learn what a sublet is or how to sublet? Look no further! Read this article to learn more about the subletting process and how to start finding tenants.
What does it mean to sublet an apartment? Perhaps you’ve had a sudden change in jobs, have found a summer internship in a different city, or will be away for an extended period of time and can't fully commit to a year's lease. Subletting allows you to re-rent your apartment to another renter for the short term. Below you’ll find a step by step list on how to sublet your apartment.
1. Check your lease and with your landlord to see if you can legally sublease.
It's important to first check the state and city subletting regulations. You cannot sublet apartments without permission from your landlord.
In Boston, you need to check if subletting is available in your lease and if so ask for landlord approval.
In NYC, you must seek approval from your landlord who may not unreasonably refuse your request. However the landlord must provide their written or electronic consent before you sublet. Once approved, you’ve got to think like a landlord.
2. Decide on the best sites to post your sublet.
You’ll need to determine the start and end dates for the lease. It’s a good idea to post your rental property on active platforms that will make your new life as a landlord easier.
It’s best to advertise your sublet on a range of sites, Facebook groups and Craigslist are both popular choices. You’ll need to take photos of the apartment and conduct showings to prospective subletters of your real property.
3. After you’ve listed, prepare for subletters by writing up a sublet agreement form.
This should be similar to your original lease. Check with your landlord before sending any sublet lease agreement forms to prospective subletters.
4. After showings have been done and you have a number of prospective subletters, choose a qualified candidate.
Ask your candidate to submit references, their employment history, and ask to run a credit check. Whether you’re in Boston or NYC, you need to send your candidate’s application to your landlord and property management company for their approval. If approved, send the candidate-now-subletter their sublet agreement form to sign and set up a rent schedule for collecting rent between yourself and the new subletter, as unpaid rent will be on you. After you've discussed terms is time to sign the lease.
5. Ask for a security deposit and one month’s rent before you hand them the keys and provide a walkthrough of the apartment.
In Massachusetts an inventory checklist and walkthrough is required after a security deposit is collected, this is done to prevent unfair deductions of the deposit.You’ve done it! Remember to exchange contact info and keep in touch with your subletter. But now you can finally enjoy that summer internship, change of job, or vacation guilt free.
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