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5 Tips You Should Be Using to Sublease Your Rental


Looking for sublet your place fast? Luckily you came to the right place. Be sure and read your lease thoroughly. It will have the terms of a sublease in the contract. If it doesn't you will want to speak with your landlord or apartment management company. This is not a unique situation and many renters like you find themselves in this situation. You should also know that you probably won't break even in this process. Unless you have a friend or family member taking over your space, you will have to compete with your apartment community in order to fill the space. Here are some tips to assist you with the process

Ask for a Referral from the Manager

Start by asking your apartment manager how many rentals they have like yours. If they are full, then simply ask them for the referral. Send the leasing staff a box of cookies or treats to motivate them to send you the overflow. If they have a lot of inventory to lease, they obviously need to fill up spaces, but if they don't, then they can give you the extra assistance. This is probably the easiest method to fill a vacancy. Offer a Discount Everyone looking for an apartment home is looking for some sort of deal. Luckily for you, you can offer something even better than what your competitors are offering. Don't be afraid to offer a prospective renter ½ month free or even a full month. Remember the long the unit sits, the more you will be paying for it. In a renter's market you have to over incentives. You can also offer reduced rent. If your apartment is going for $1000 a month, then you could knock of $50 and offer it for a fee of $950.

Use Online Resources

Gone are the days of running ads in the newspaper or posting up vacancies on some housing board in a university. You have the ability to get your ad up in front of hundreds if not thousands of people. 2 of the largest housing sites are Craiglist and the Facebook Marketplace. You also can go a step further and syndicate your rental on Zillow. They have rentals there as well. The amount of options online is pretty significant.

Create an Enticing Ad

This brings us to creating an advertisement that will generate leads, phone calls, and email. Provide your contact info so applicants can get a hold of you easily. Also answer your phone and return calls quickly. Renters move fast these days. In the add you will want to list the following:
*List the number of bedrooms and bathrooms
*Include several pictures (the more the better)
*If you can, don't list the price (you will get more calls this way)
*You can list the apartment name, but don't list your unit number. Example of how to list an apartment rental https://www.rentkidz.com/apartments-tx-dallas/
*Don't say things like will negotiate on price

Vent the Applicant Properly

Probably one of the most important parts of the entire process is qualifying the applicant. Here is the type of renter your looking for:
Makes enough income (usually 3.5 times the monthly rent)
No criminal background (felonies and misdemeanors)
No broken leases, judgements, or evictions
No recent bankruptcies
You will to though quick a few applicants who possess one of these characteristics. Just know that you want to avoid these types.

Collect their Information and Fill out the Paperwork Properly

You need to make sure that you have all your i's dotted and t's crossed. It's best to purchase a subletting contract or potentially ask the leasing office where you can get a copy. You will be binding the individual in an apartment lease. Here is a good draft of one you can examine. You really don't want to cut any corners. Spend some money and get one that is enforceable.

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