Useful Tips For Securing A Security Deposit When Subletting A Home

Written By: Aaron Watkins on July 31, 2010 No Comment

There are reasons to sublet your apartment for a period of time. You may want to consider this option if you are doing a study abroad or going to be away for work. Getting a person to split the rent may be a good option for you.

If you decide to sublet your apartment, make sure you require a security deposit. The amount of a security deposit generally equals about a month or two of rent, depending on the situation.

The main reason for requiring a security deposit is that it will act as an insurance to cover for damages to the property and its contents. This is especially important if one is subletting due to extended travel and is leaving his things in the apartment while the subtenant is there.

The security deposit is paid by the subtenant up front. It is usually refunded within thirty days of moving out and only after the apartment has been inspected.

Each building has its own rules about subletting. The rules for security deposits also vary. The variations vary for each state.

Depending on what is valid for your state, it is critical that you get your landlord’s permission no matter if it is need in your lease. Generally, the tenant will provide the landlord with the name and occupation of the subtenant, the purpose of the sublease, and all the conditions of the sublease, as well as a contact address for the lease holder.

You need to prepare other documents before the move. You should get written permission from any co-tenants before allowing someone to sublease your apartment.

Before the subtenant moves in, make sure you take pictures of the place. This step is necessary because some of your belongings may be in the apartment and furnished. It is also proof to any damage the subtenant may make in your absence so you can prove the damage didn’t exist prior to the move.

This writer has been providing advice about subletting for the past three years. Additionally, this author likes blogging about New York City real estate, such as Battery Park apartment along with Gramercy apartments.