If you’re a Blythewood renter, subletting your rental home or apartment can be an ideal method of generating additional revenue; however, you have to be careful because the situation is not always perfect – or legal. Even though your landlord permits subletting, you must examine the pros and cons before reaching a choice. In this blog post, we’ll explore both the good and the bad of subletting. So, whether you’re on the fence about subletting or just need more information, read on!
The Pros of Subletting:
- Extra Money: Subletting your rental home or apartment can be an excellent method to gain some additional income, mainly if you have a spare room you aren’t using or will be away from your apartment for an extended period of time. In these circumstances, having a subletter helps you pay your rent and can be a huge financial benefit. As long as you obtain permission from your Blythewood property manager first, it’s a win-win situation for both parties involved!
- Security: If you’re worried about leaving your rental home vacant while you’re away, subletting can ease your fears by providing someone to watch over the property while you’re gone. Subletters who take on long-term leases may also be available to help with any maintenance issues that arise during their stay.
- Avoid Breaking a Lease: If you must leave your rental home before the end of your lease agreement, subletting might help you avoid penalties or other complications that arise from breaking a lease.
The Cons of Subletting:
- Increased Risk: Even though several subletters are honest and responsible persons, there are always risks involved. For illustration, there’s always a possibility that they could cease paying the rent, damage your rental home, or disrupt the neighbors. Before you sublet, closely vet each potential subletter and ensure they have a good credit and rental history. Additionally, make sure that they comprehend what is expected of them financially and in terms of property maintenance. Additionally, you must consider renter’s insurance. Even though you may be adequately insured, your coverage does not extend to subletters; ensure they obtain renters insurance.
- Potential Legal Problems: In certain instances, subletting could violate the terms of your lease agreement or even be illegal in some cities and states. Check with your landlord and local laws before beginning the subletting process.
- Losing Control: Subletting might also imply that you’ll have less control over who is living in your rental home and how it’s being taken care of. If you are subletting a room, take into consideration that your roommate will be a stranger who may be difficult to get along with. If you are concerned about this, aim to try short-term subletting or implementing a system where you can regularly check in on the property.
By evaluating both the pros and cons of subletting your rental home, you can make an informed decision about whether or not to proceed. As long as you do your research and have authorization from your landlord, however, subletting can be an excellent method to earn some extra cash and gain peace of mind.
Are you in the market for a new rental home? Real Property Management Midlands might have just the place you’re looking for. Browse our listings online or call 803-403-8838.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.