What would you do if you had several months left on your lease and had to move? What if you job transferred you to a new location and you had to leave the city? While you may be able to talk your apartment manager into letting you out of your lease, this is not always an option.
If you can’t get out of your lease, your only option may be to sublet your apartment. However, before you sign an agreement, you should speak to your apartment manager to see if it’s allowed.
Choosing the Right Person
If you can sublet your apartment, you need to make sure you choose the right person. After all, you are responsible for the apartment and the rent until your lease expires. That means you want someone who will not only pay their rent on time, but also take care of the property.
You can advertise your rental in online and offline Virginia classified ads. Make sure you include the fact that this is not a primary lease for the unit. You must let people know they are subletting the space. You also need to let them know how many months are left on your lease.
If you only have a few months left on the lease, a short-term renter may be perfect for you. There are many people who only need to be in a city for a few months, for work or leisure. They may only need a place to live for a month or two. They may also be willing to pay a little extra.
Calculate the Rate
If you’re subletting to a person who will reside in the apartment for several months, then you can have them pay for their own utilities. They can connect their own services, so you don’t have to worry about paying those bills.
If you choose to rent to a short-term or temporary renter, then you may need to keep the utilities connected. These people do not plan on staying and therefore would not want to pay the additional deposits that may be required to connect utilities. So, you need to include the cost of utilities in their rental amount.
Get It in Writing
You need to sign a subletting agreement, which must be valid in Virginia, before the tenant moves in. You should collect a deposit and keep those funds in a separate account to ensure it is available when they move out. You need to have a rental agreement in case you have problems with the person in the future.