Many student housing leases are 12 months, but there may come a time when you won’t be living in your apartment. A great way to offset the rent costs is to sublet your apartment when you aren’t living in it. Before you decide you want to sublet you will need to make sure that subletting is allowed in your apartment. Clauses regarding subletting will be stated in your lease, but if there isn’t any information then you should check with your landlord to be safe. Whether you’re going on an exchange, doing a work term in a different city, or just looking to rent out your room for a while, here are some tips for subletting your student apartment.
Craigslist and other online sites are a great way to advertise your apartment, but Facebook is also a very handy tool. Most schools have Facebook pages where students post links and pictures to their sublet which is great because people can reply quickly. Advertising at school or on your campus housing pages is also very beneficial. Advertising your sublet ahead of time is very important and will be essential. You should advertise the price to be slightly lower than you pay, to ensure that enough people will consider renting it from you. A good rule of thumb is around 80% of what you currently pay.
Have a contract
Even if you are subletting to someone you know, you should always have a written contract between you and the person subletting. This way the agreement is binding and there is no confusion between you. You will want to outline the move in and out dates, the rent price and any other areas of interest that are specific to your apartment.
Screen the applicants
You don’t need to ask them for their best friend’s favourite colour, but you should learn a bit about the person that is planning on renting your room from you. If you are leaving but your roommates are staying, then it is a courtesy to have them meet this perspective sub-letter to get their opinion. Talk with the person to determine they have the appropriate finances to pay the rent and that they aren’t leaving their own apartment for any sketchy reasons.
Clear Out Your Room
Students often have a lot of clutter in their rooms. You will want to remove all the non-essential items from your room while someone else is living there so they have enough space for their things. This will include your clothes and other accessories that fill space in your room. Also ensure that you have removed all of your valuables before the new person moves into your apartment.
You can set up your sub-letter with online rental payments to make both of your lives easier. Find out how to make rent rewarding here.