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Sublease Residential

Often a tenant may wish to leave his or her rental property before the lease term expires. Common situations where this may occur include being transferred or taking a job in another city, taking a long vacation, or attending school in another location. In order to avoid the financial penalties that could result from terminating a lease, some tenants may instead choose to pursue a sublease. Residential subleases allow a third party to take over a rental property while the original tenant still holds a lease on the property. Some landlords may disallow subleases entirely; if this is the case, a no sublease clause should be included in the original lease. Otherwise, a tenant may pursue a residential sublease, though the consent of the landlord is still usually required. A residential sublease may not be for a period longer than the amount of time left on the original lease, and the subtenant is responsible for upholding all the terms of the original lease in addition to any terms included in the sublease agreement.

Fast Facts

  • In mid 2009, the median price for a sublease in Seattle, WA was $1395.
  • A subtenant in a furnished rent stabilized property in New York can not be charged more than the stabilized rent, plus 10%.

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  • Residential Sublease Agreements

    A subleasing contract is an effective method to allow a tenant to save money on expenses if they decided to va...
    • Site: landlordtenantlawfirms.com
  • Getting Out of Commercial Leases

    If you are trying to get out of commercial leases, you should consider the ramifications and these tips in adv...
    • Site: realestatelawyers.com
  • Commercial Building Lease

    Commercial Leasing? Renting a commercial space instead of purchasing a commercial real estate is an excellent...
    • Site: landlordtenantlawfirms.com
  • Sublet Agreements

    Subletting occurs when a tenant decides for whatever reason to vacate their lease premises prior to the lease ...
    • Site: landlordtenantlawfirms.com

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