If you’re moving out of your rental home before your lease expires, subleasing is a great option to avoid early termination fees and potentially make some extra cash. Subleasing means you allow another tenant to occupy and pay rent for the remainder of your lease term. Here’s everything you need to know to successfully sublease your rental home.
- Talk to your landlord
The first step is to communicate with your landlord about your intention to sublease your rental home. Most lease agreements require the landlord’s consent and approval. Reach out to your landlord, provide an honest reason for your move and ask for the requirements and conditions for subleasing.
- Find a subtenant
Once you have your landlord’s approval to sublet, you can begin searching for a subtenant. You can advertise your home on subletting websites, social media platforms or even using flyers around your neighborhood. Your landlord may also have some useful connections. When you’re screening potential subtenants, make sure they’re responsible and can afford the rent payment.
- Sign a sublease agreement
Before letting someone move in, make sure you sign a sublease agreement that outlines the terms and responsibilities of the subtenant, including permissible use of the rental property and rent payment deadlines. This agreement should be signed by both you and the subtenant, and you should provide a copy to your landlord.
- Prepare for the move-out
Before moving out, make sure to remove all of your personal belongings and clean the rental home to ensure that the subtenant moves into a clean and safe environment. Also, make sure to cancel all utilities and transfer any remaining bills to your subtenant.
- Monitor the subtenant’s payment
Although your subtenant is now responsible for rent payment, it’s your responsibility to make sure it is paid on time. You can also ask your landlord to notify you in case of any rent payment issues.
- Finalize the sublease agreement
Once the subtenant is ready to move out, make sure to collect the keys and inspect the rental home to ensure it’s in good condition. Also, finalize the sublease agreement by acknowledging that the subtenant has fulfilled their obligations.
Subleasing your rental home can be a favorable and convenient solution for moving out. By following these steps, you can successfully sublet your rental home and make the transition as easy as possible. Don’t forget to always communicate with your landlord to ensure that everything is done in accordance with your lease agreement.