TENANTS GUIDE TO SUB-LEASING
OVERVIEW - WHAT IS A SUB-LEASE?
A rental agreement or lease between a tenant and a new tenant (sublessee) who will either share the rental or take over from the first tenant. The sublessee pays rent directly to the tenant. The tenant is still completely responsible to the landlord for the rent and for any damage, including that caused by the sublessee. Most landlords prohibit subleases unless they have given prior written consent. Compare.
HOW IT WORKS: in order to sub-lease you must first obtain the landlord's written consent. To get our consent the sublessee must meet all requirements based on the standard rental, credit & criminal background check. There are some fees involved (see below). To download a new rental agreement for the sublessees click here.
PLACES TO ADVERTISE TO FIND PERSPECTIVE TENANTS
- orlando.craigslist.org
- rentals.com
- etc.
SUGGESTIONS
- Re-post at least 3x / weekly on Craigslist.
- Consider reducing the rent below what you are currently paying to sub-lease quickly. You would be responsible for the difference.
FEES INVOLVED
- Tenant handles all of the advertising and showings, etc.
- $100 processing fee (see below)
- $35 Non-refundable application fee charged per new prospective tenant.
Please see section XVI., page 7 of 8 at the top of the lease agreement you signed. Per the written agreement, in order to sub-lease you must first obtain the landlord's written consent. We are more than happy to sign the sublease for you but there is a mandatory $100 fee. We do not make any money from this. This charge is to avoid us losing money on the transaction.
We have real costs that are incurred from changing tenants that typically include but are not limited to:
- Walk-throughs
- 5-7 phone calls and e-mails both from the previous tenant (you) and the new tenant moving in
- Preparation of the new contract, scanning and archiving
- 3-5 additional phone calls and e-mails with the owner of the property
- additional bookkeeping and accounting expenses
The new tenant will be required to pay a $35 application fee. This covers the actual costs of pulling credit, rental history & background checks.
We will only be able to approve a sublease if we receive a certified check or money order for $100 to cover our costs.
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