If you’re a Saint Charles renter, subletting your rental home or apartment can be the best way to make some extra money; although, you have to be careful because the situation is not always perfect – or legal. Even when your landlord allows subletting, there are pros and cons that you need to weigh just before making a decision. In this blog post, we’ll look at both the good and the bad of subletting. So, whether you’re on the fence about subletting or just looking for more information, read on!
The Pros of Subletting:
- Extra Money: Subletting your rental home or apartment can be an effective way to make extra money, primarily if you have a spare room you aren’t using or will be absent from your apartment for an extended period of time. In these instances, having a subletter help you pay your rent can be a greater financial benefit. As long as you acquire permission from your Saint Charles property manager first, it’s a win-win situation for both parties involved!
- Security: If you’re bothered about leaving your rental home vacant while you’re far away, subletting can calm your fears by allowing someone to watch over the property while you’re elsewhere. Subletters who agree to long-term leases may moreover be disposed to be helpful with any maintenance issues that occur during their stay.
- Avoid Breaking a Lease: If you have to leave your rental home before the end of your lease agreement, subletting can grant an effective way for you to avoid penalties or other burdens involved with breaking a lease.
The Cons of Subletting:
- Increased Risk: Even though many subletters are honest and responsible individuals, there are always risks involved. For example, there is, in many cases, the risk that they could stop paying the rent, bring about damage to your rental home, or cause distress to the neighbors. Before you sublet, meticulously vet each potential subletter and make sure they have a really good credit and rental history. At the same time, make certain that they very clearly know what is expected of them financially and in terms of property maintenance. You, as well, need to take into consideration the renter’s insurance. Even though you may be excellently insured, your coverage does not extend to subletters; make sure they have renters insurance.
- Probable Legal Problems: Most of the time, 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 you start the subletting process.
- Losing Control: Subletting can additionally denote 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, know that your roommate will be a stranger and maybe difficult to live with. If you’re troubled as regards this, take into account trying short-term subletting or establishing a system where you can regularly check in on the property.
By conscientiously thinking of both the pros and cons of subletting your rental home, you can make an informed decision referring to whether or not it’s appropriate for you. As long as you do your research and get permission from your landlord, definitely, as a matter of fact, subletting can be the best approach to make a bit of extra cash and grant you peace of mind.
Are you in the market for a new rental home? Real Property Management Endeavor might have just the place you’re looking for. Browse our listings online or call 636-244-5959.
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.
