Learn to successfully sublet your apartment
October 21, 2019
Are you studying abroad for a semester but have already signed a full-year lease? Does your lease extend into summer, even though you won’t be living there? The best way to save money is to sublet the apartment instead of continuing to pay rent without making use of the space.
Subletting your apartment means signing a separate lease with another person with you as the lessor and the other person as the lessee. They would pay rent and live there like a regular resident with most of the same rules as you.
The first step is to check if there are any restrictions in the lease regarding subletting your apartment. Next, you should contact your lessor to let them know you plan on subletting your apartment and confirm they are OK with it. If you signed a lease through a realty company, they might be able to help you find someone for the apartment, depending on their policies. If not, the Facebook group ‘Housing, Sublets and Roommates’ is your next best option.
Start by creating a post about the place you are trying to sublet. Mention details such as price, the number of bedrooms, roommates and other facilities included. This will help ensure that people who contact you about the offer are seriously interested. One thing to keep in mind is how flexible you want to be with the rent price, such as whether you plan to charge the full price or if you will consider charging a bit lower. Being more flexible will encourage more people to reach out.
Most communication about posts from the Facebook group happens through Messenger — try to keep your notifications on in case someone reaches out. After someone reaches out, talk to them and answer any questions they might have. However, keep in mind that in the event of any damages, you will most likely be charged on your lease. Therefore, it is important to ensure the lessee will be responsible and take care of the place.
If they would like, ensure you make time to show the lessee the place before making any final decisions. If there are multiple people who express interest, try to schedule all the showings during the same week, so it gives you an opportunity to decide within a reasonable time frame instead of keeping prospective lessees waiting.
Finally, before you hand the place over, remember to collect a deposit from the lessee in case of any damages to the property.
Hopefully, this advice on subletting your apartment makes for a less costly and more convenient time at the University.
Sonal is a sophomore in business.