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Subletting – what is it and how do you do it?

Subletting – what is it and how do you do it? Featured Image

To sublet, is to lease to another person a house, apartment, or room that is already being leased to you.

You must move before your lease ends, what do you do? You will need to sublet your apartment.  Subletting, like everything, there is a right way and a wrong way to sublet.  With the guidance or your Landlord, it is as easy as 1, 2, 3.

Step 1 – Notify your Landlord

Notify your Landlord immediately when you find out you need to sublet your apartment.  Ask for information about their subletting policies and procedures.

Step 2 – Understanding Your Responsibility.  Am I still responsible for the apartment even if I sublet? 

You are still obligated for any rent, damages, and utilities for the apartment.  Subletting does not release you from liability but adds someone to the lease with you.  Therefore, it is imperative that you follow the subletting rules and regulations.

Step 3 – Marketing Your Apartment

The key to subletting your apartment is getting exposure, activity, and traffic. You must put forth the effort to make this happen.  Try to retrace your steps, how did you find your apartment – market it there! Be sure to include pictures, term of the lease, and be descriptive.  Tell them what sold you to rent there!

Social Network – Use your social network to get the word out.  Facebook is a great way to spread the word, have your friends and family share your sublet information.

Facebook Marketplace – You can advertise through the Marketplace on Facebook.  Refresh your ad weekly.

Craigslist – This is a great resource to advertise your sublet, and its FREE! This should be done daily.

Step 4 – Know Your Landlord’s Screening Criteria

The screening criteria for your sublessee, will be no different than it was for you.  They will need to meet all your Landlord’s criteria.  It may be helpful to put the criteria of your Landlord within each ad.

Step 5 – Taking Calls, Being Responsive to Ads, and Showing Your Apartment

Be available to take calls and reply to your inquiries, so that you can make those appointments to show your apartment.  Getting people in the door to see your apartment is the goal, make it happen!  Give everyone an application and urge them to apply online.  Remember to continue with your marketing efforts until an approved sublessee has signed paperwork.

Step 6 – Sign the Sublet Agreement

Once you have an approved sublessee sign the paperwork immediately.  Time is of the essence, don’t wait to sign the documents.

Following these easy steps will ensure a successful and stress-free sublet. Keep in touch with your Landlord to be sure that all is right in the apartment and that your sublessee is current on rent and utilities.  Easy as 1, 2, 3.