Residential – SubLease Agreement could take away some worries!
You have just renewed your residential lease for another 12 months and here comes the problem of the day. Your boss releases the news that you have been reassigned to another state, and you must leave town. You have renewed the lease on your business location, and now a much better location has become available and you want to move. Your life has changed unexpectedly, but you are bound by a lease. You don’t want to move out and still make payments for a year while you aren’t using the property. What can you do?
First, approach your landlord to gain his/her assistance with your request to SubLease. Explain the situation carefully and gain his or her cooperation. You will need to ask for copies of the rental application because the landlord will insist on approving the new tenants. The new tenants will need to fill out the rental application and submit references, just as you did.
In turn, the new tenants will want to see and approve the current lease because they will be subject to its provisions, just as you were. Make a copy of the lease for them to keep for future reference?
The important difference between sub-leasing from you and leasing directly from the landlord is that you will still be obligated under the lease. Should the new tenants fail to pay rents on time, cause damage to the property, or otherwise violate the terms of the lease, you will be liable along with them.
Yes, the landlord will have approved the application, but yes, you are still liable until the expiration of your current lease.
Provisions outlining each party’s rights and obligations can be found in our SubLease Agreement. The form is brief and easy to fill out, and necessary for your legal health.
Failure to obtain permission from your landlord could result in unpleasant circumstances. The landlord could sue for breach of contract, could demand all rents due and payable, and could evict “your” tenants.
Whatever you do, don’t rely on a verbal OK from the landlord. And don’t rely on a verbal agreement with new tenants that they will uphold the terms of your lease. Put it in writing, and stay out of court.
If you hear the term “Sublet” or “Subletting”, be aware that we are referring to the same thing as the Residential Sublease Agreement