How to Draw Up a Sublet Lease Agreement
A sublet lease agreement is an agreement between your roommate or a subtenant and yourself. A sublease is the renting out of your apartment or a portion of it to another roommate. A sublease can also mean subleasing the whole property to a subtenant who pays the rent to the actual. The tenant generally pays a lesser rent to the landlord than the subtenant, and makes a profit out of the deal. A sublease is rarely allowed by most landlords.
Drawing Up a Sublet Lease Agreement
A sublet lease agreement can only be drawn if the lease agreement permits that the property can be sublet. The sublease has to be approved by the landlord. The landlord might also want a background check carried out on the subtenant. In
addition, the landlord may require the subtenant’s references, credit check and criminal record. The agreement has to be signed by both the subtenant and the landlord.
The agreement should clearly state duration of the lease, the amount of rent and its mode of payment, the maintenance of the property and any furniture inside the property, the payment of utility bills and payments for additional services such as Internet. The agreement should also mention the amount of security deposit that’s required and termination clauses in case of nonpayment by the subtenant or disorderly behavior.
A sublet lease agreement is generally similar to the lease contract between you the tenant and the owner of the property or the landlord. A sample form for such an agreement can be obtained online.Source: ohmyapt.apartmentratings.com