Subleasing is an option for handling the remainder of a lease that a current tenant is unable to complete. Here is an overview of what a sublease agreement is and what you need to know if your tenant decides that subleasing is the best option for them.
What is the difference between subleasing and subletting?
Subleasing and subletting are similar concepts from the new tenant’s perspective, but understanding the difference between these options is key when it comes to understanding your rights and responsibilities in both situations. You will typically have a higher level of control over subletting because you will have direct contact with the new tenant throughout the process, while the original tenant handles the majority of the work involved with finding a subleaser.
How will i get paid if my original tenant decides to sublease?
The original tenant will obtain rent from the new tenant and pass it along to you. This can be a more complex situation than receiving payment directly from the new tenant as you would if you were subletting, but it is important to avoid penalizing the new tenant if they pay on time and the current tenant fails to fulfill their responsibility.
Can a subleaser keep the lease?
Yes, a subleaser should generally get first priority if the current tenant does not return. If the new tenant decides to stay after the original tenant’s lease ends, the lease should be transferred to them.
Who is responsible for damages if my original tenant chooses to sublease?
Your original tenant will still be responsible for damages that are caused by the new tenant.
Do i have to allow subleasing?
No, you are not obligated to allow your current tenants to sublease. However, being sensitive to changes to their needs and working with them to find the best possible solution for everyone involved if they find that they need to move out before their lease ends can go a long way toward maintaining a strong professional relationship with your tenants to avoid making them lose interest in coming back in the future.