There are reasons to sublet your apartment for a period of time. You may want to consider this option if you are doing a study abroad or going to be away for work. Getting a person to split the rent may be a good option for you.
If you decide to sublet your apartment, make sure you require a security deposit. The amount of a security deposit generally equals about a month or two of rent, depending on the situation.
The reason to request a security deposit is to cover any possible damages that may occur in your absence. A security deposit is especially needed if you are leaving any of your belongings in the apartment while you are gone.
The security deposit is paid by the subtenant up front. It is usually refunded within thirty days of moving out and only after the apartment has been inspected.
The rules of subletting vary by building or by apartment. Additionally, the rules on security deposits from sublets will also vary per state.
Depending on what is valid for your state, it is critical that you get your landlord’s permission no matter if it is need in your lease. Generally, the tenant will provide the landlord with the name and occupation of the subtenant, the purpose of the sublease, and all the conditions of the sublease, as well as a contact address for the lease holder.
Aside from the sublease contract, there are also other things that the tenant must prepare before the subletter moves in. These include the written consent of the co-tenant and guarantor of the lease if applicable.
Lastly, you need to make sure you have photos of the unit before the subleaser moves in. Don’t forget that this place is furnished, and you might want to add extra money to the deposit to cover your possessions.
The individual has been publishing commentary about sublets for the past four years. Furthermore, the author likes blogging about New York real estate subjects, including Battery Park City apartments in addition to Gramercy apartments.
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