When subletting an apartment, the original holder of the lease offers the apartment to a third party. The original renter remains in possession of the apartment, though not living in it, and can return to the abode after the sublease ends.Continue Reading
Subletting is often done when the original renter has to vacate the apartment for an extended period of time. By subletting the apartment, the original renter can keep the terms of the current lease valid, avoiding the need to find a new apartment after returning to the area or having to negotiate a new lease for the same place. Not all renters are able to sublet. Either the original lease must allow for subletting or the agreement must be approved by the landlord before subletting proceeds. The original renter can expect to recoup as much as 80 percent of the actual rental costs when subletting. He can protect his possessions by taking photos and doing a walk-through with the subletter.
For the subletter the process of subletting is the same as entering into any other rental agreement. A subletting agreement is signed with the original renter and with the landlord before moving in. The subletter must also pay a deposit to the original renter to cover any possible damages.Learn more about Real Estate