Should I allow subletting?

4 Replies

I have had great tenants in my rental for 15 months with no serious problems. They are 3 months in to a year lease and are now asking for permission to sublet or reassign because they want to move sooner. The lease states that they need my permission to sublet or reassign the lease, but I really don't see any advantage to allowing them to do so. What are your thoughts?

If they can sub-let, I would assume that they are leasing it for more than the current lease requires. This means it  may be rented below market rate. I would screen the tenant they are considering sub-letting or assigning. If they are good, then good. If not, I would not do it. 

If they are moving out, I wouldn’t. I’d figure out an amicable early lease termination and let them move on and get a new tenant. Maybe 1 month rent termination fee.

That way you can screen them, get a security deposit, handle them directly if there are issues, etc etc.

I’d only consider subletting if it’s a short-term thing and the original tenants are coming back.

@Forrest Bush , with only 3 months remaining I think your better option is terminating the lease early.

Inform them they are still responsible for the lease if they move out but in good faith you will do your best to find new qualified tenants as soon as possible.  I would even encourage them to help search for tenants.  Sub-let for 3 months is too much risk for me.