Housing Market 2023: 5 Reasons You’re Having Trouble Subletting Your Apartment
Written by
Jake Safane
Edited by
Gary Dudak
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Whether you’re buying a house but don’t want to break your rental agreement early, or moving in with a friend to save money but still need someone to pay the rent on your old place, there are plenty of reasons to sublet your apartment.
However, subletting can be difficult to pull off smoothly, as you have to navigate areas like your own housing needs, the housing needs of others, and your landlord’s requirements.
Ideally, you can inform yourself of these issues ahead of time or early in the process to try to find solutions before you face a time crunch. But if you’re already in the middle of the process, it can still help to know some of the challenges you might face.
Some of the more common subletting pitfalls, according to Martha Gaffney, strategic real estate advisor at HouseCashin, include the following.
Prospective Subletters Aren’t Financially Reliable
Just because you find someone to take over your lease doesn’t mean that you should let them. If you don’t know whether someone has the ability to pay rent on time, then you could be taking on a big risk.
“The lessee needs to be financially capable to fulfill your commitment to the landlord,” said Gaffney.
Timing Doesn’t Work Out
One of the hardest parts of subletting is getting the timing to work out. Maybe you’re looking for a summer subletter, but to you that means June-August, while a college student might need a place starting in mid-May.
“The dates of your lease need to work with the lessee,” stressed Gaffney.
You’re Not Allowed To Sublet
Another issue, according to Gaffney, is that your lease might not allow for subletting. Be sure to read your lease over carefully to understand what is and what isn’t allowed.
Consider contacting your landlord if you already find yourself in this situation, as it’s possible they’ll work something out with you to allow you to sublet or break your lease early. Next time you sign a lease, however, look closely at the subletting policy.
Your Landlord Needs To Screen Subletters
Your lease might allow you to sublet your apartment, but that doesn’t mean you can pick whoever you want. “You might find that your landlord needs to follow through with a screening process to approve your sublease,” said Gaffney.
So, consider asking whether a potential subletter has qualifications like a steady job and good credit before trying to get approval from your landlord.
You Have To Get Involved After Subletting
Even if you find someone who seems like a good subletter, there’s still a risk that you’ll essentially take on the role of a landlord and run into issues managing the property, Gaffney said.
In other words, you’re still responsible for the apartment. So if something breaks, for example, you might have to get involved in fixing it or even pay for it yourself. For this reason, you should seek a subletter who you feel confident can manage issues on their own and has a good track record of being a good tenant. You might even ask for references from their prior roommates.
Overcoming Subletting Challenges
While these are some common issues with subletting an apartment, that doesn’t mean you have to sit back and wait for them to happen to you.
One solution could be to lower your rent, said Gaffney. That might be a bit of a financial hit for you, but it’s likely better than the alternative of not being able to find anyone.
Also, start your search “with ample time before you need the sublease to begin,” recommended Gaffney. “By doing so, you will have time and more applicants to screen, allowing you to pick the better of all choices and allowing the landlord the opportunity to screen and easily approve a financially qualified subtenant.”
Another solution could be to get a security deposit from your subletter, which could help reduce your financial risk and get the subletter invested in treating your apartment well.
“Asking for a security deposit incentivizes the subletter to take good care of your space and thus receive their money back at the end of their stay,” notes a StreetEasy article.
You also don’t necessarily have to manage the process on your own. You might be able to work with a real estate professional. For example, if you’re renting another apartment or buying a home, and thus need a subletter for your current apartment, the agent you’re working with might offer to help with the sublet search.
“Your best bet will always be to hire a broker who is familiar with the process, can market your unit correctly, who will guide you and handle everything professionally, and within your timeline,” said Gaffney.
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