5 Scenarios when Subletting is the Best Option
November 2nd, 2009 by Staff WriterSubletting is the practice of renting from tenants who have signed a lease agreement with a landlord. The tenant is legally obligated to the landlord for all of the terms covered in the lease, while the person who is subletting is generally obligated to the tenant only. There are situations when you might choose to sublet instead of signing a lease. Here are 5 scenarios:
1. You’re New to the City
Some long distance movers don’t get the opportunity to visit the cities and neighborhoods they’re moving to before-hand. They rely on the internet or realtors to find apartments. If you find yourself in this situation, you can choose subletting instead of getting locked into a 1 year lease agreement. Tenants might sublet to you because they’re going on vacation for two or three months. Whatever the reason, you’ll have access to a furnished apartment, and you’ll have time to get to know your new location and find the right apartment for you.
2. You Don’t Have Enough for Deposits
The financial costs of signing a lease agreement and moving in are far more than just your first month’s rent. Whether you sign a 6 month lease agreement or a 1 year lease agreement, you’ll most likely have to pay 1 to 2 months rent for a security deposit, plus a rent application fee (if applicable) and pet deposits. This can pose a burden if you’re strapped for cash. Subletting can alleviate some of the burden because many require less, or in a few cases, no deposit is required.
3. You’re Taking Classes
Are you going to take summer classes at a university or college in another state? Subletting might be a better option instead of campus housing. You might prefer living in a quiet neighborhood, or the apartment that you end up subletting might be close to your job. Some professors take a sabbatical for an entire year and sublet their places to adults and students. If you’re a full-time student, don’t ignore the option of entering a sublease agreement instead of a 1 year lease.
4. Your Credit Score is Low
If you’re having trouble getting an apartment because of your credit score, you can try subletting for a while until you can find an apartment. A tenant who wants to offer you a sublease agreement usually doesn’t check your credit score. They’re more concerned with your ability to pay rent now, and the rental period is short enough to take a risk on you, or you can pay all the rent up front. In the meantime, you can work towards making sure that your bills are paid on time, and proving your good standing with utilities and other companies to potential landlords.
5. Rentals are Scarce
There are times when you must rent in a particular location that has no openings. One way to overcome this hurdle is by subletting. You might be able to get someone to sublet an apartment to you for a short time until something becomes available. You have to be careful though, and prepare for the worst case scenario that there may not be any openings in the future, either.
Although subletting lets you avoid a lease agreement, you should be prepared to sign a sublease agreement. You should also verify that the tenant can legally sublease the apartment to you.
Tags: Renter Legal Issues, Sublease
