Subleasing help

2 Replies

Hey BP,

We find ourselves rather abruptly moving to be closer to my FIL during his last months/years with a terminal illness. Our lease isn't up yet, and we're looking to sublease. Already cleared it with the landlord, and it was only after I sent out an email about the place to a local group I'm a part of that I realized my ignorance about subleases...so now I have some questions I hope y'all can quickly help me with!

1) How much to charge for security deposit?

2) Is it better to ask for the full amount of rent (+ security deposit?) up front, or to let them pay month by month?

3) If they paid month to month, they're paying *us*, right? And then we pay the landlord?

4) Where to run a background check? 

5) Can we switch our utilities over to their name (if they want), or should we just cancel them and pay the fee?

Thanks very much!

Hello Theresa,

1. I would ask the full amount.

2. It is best to get as much as possible up front, so if they are able to give you a month's rent and deposit to move in, great.  If not, maybe have them pay 1/3 of the deposit each month for 3 months.  The sooner you get the money, the lower your risk is subletting to them.

3. You could do that either way.  When my tenants have subletted, the subletter has paid me directly.

4.  I would ask your landlord how they want that handled.  I have any subletter fill out an application and pay the $30 app fee, and I run the check.  That way I know who I am now leasing to and if they decide to lease the place after the lease is up we are all set.  In case you end up doing it yourself, I use rentecdirect.com and I call past and current landlords and verify employment as well.  Keep in mind that you are still responsible for the place while this tenant is living there, so it is in your best interest that this is done correctly.

5.  I would get them to switch it into their names- lowers your risk again.

Kelly

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