If you are a renter, you know that there is a variety of leasing situations you can be in. From varying lease lengths to unfamiliar clauses, you likely are never going to be getting the same leasing situation between different rental properties. One leasing situation that many college students find themselves in at least one point in their college career is subletting.
Short-term housing can be the norm for many college students, but navigating a sublet situation can be very different than your typical leasing situation between a renter and landlord/property management. Keep reading for what to know about subletting month-to-month.
Understanding subletting
A sublet is a rental agreement where the current tenant finds a new tenant to whom the landlord can lease the rental property. In most cases, sublets occur when the original tenant intends to move out and completely vacate the property, but in some cases, the original tenant may plan on returning to continue their lease.
With a sublet, a new lease is established with the new tenant — rent is paid by the new tenant and directly to the landlord. The new tenant becomes solely responsible for fulfilling the lease terms. Subletting can offer the safety of assigning responsibility to the other parties involved, and keep you and your money safe.
Situations where subletting will work in your favor
You may be wondering about situations where you would even want to consider finding a sublet. For college students, the situations may come easier than you think. For students planning to study abroad, they likely have signed longer lease agreements of 9 to 12 months and during that time, they are going to be spending months abroad while stuck in a lease. Rather than letting their apartment sit empty and giving away rent money for space they are not utilizing, a sublet will allow you to save your money while away.
More commonly, subletting during extended school breaks like summer and winter break is an ideal situation for college students. You may want to travel during the summer months or go back home for the break, while another college student may want to stay in the area to work or study but is stuck between leases. Subletting can help both parties come to a solution regarding short-term housing during school breaks.
If you live with roommates, they may be planning on staying the entirety of the lease. Rather than expecting them to pay rent and all utilities while you are away, subletting your part of the apartment month-to-month can help alleviate everyone’s concerns while you are away. Signing a sublet agreement will ensure the new tenant’s responsibility for the current living situation.
Subletting month-to-month
Sublets can often be a month-to-month situation. The longer the sublet is, the more likely it’s beneficial for you as a current renter to just cut your losses and cancel your current lease. For example, if you are a couple of months into your lease and have 9 months left to go, you may just consider canceling your lease altogether.
If you are simply looking to get some rental coverage during the couple of months of summer you will be away, and plan on returning for the new semester in the fall, subletting on a monthly basis is the ideal situation for you. If you are studying abroad for a semester, you may end up with two separate sublets with one lasting three months, then the other for another three months.
Make sure that everything is done with a written agreement with your landlord being involved and aware of all happenings in order to protect yourself and all parties involved. Depending on the state you live in, rental laws will vary. Your landlord and/or property manager can help you navigate the laws and ensure that your current leasing situation is legal. Getting other parties involved and signing new paperwork may seem like more work, but in the long run, it will be well worth protecting yourself in the event that something goes wrong as a result of the subletting.
If you do plan on returning to the property to continue your lease, make sure that the sublet agreement reflects that so you do not run into the unfortunate situation of returning to a subletter who does not plan to vacate the property.
Subletting can help you figure out a tricky housing situation when done right. With this information in mind, you can help yourself make an informed decision on whether subletting month-to-month is the right decision for your current situation.
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