Subletting your house gives you an opportunity to make extra money off your house or apartment. It can also cut down the pressure of paying your rent and bills especially when you do it correctly.
Before we walk you through some tips that will guide you through subletting your house successfully, let us take a quick look at some of the important things you should know about subletting.
1. What is Subletting?
Subletting is the process of allowing someone rent all or part of a house or other building that you are renting from someone else.
2. Subletting is Not Restricted to Rented Apartments
You can also sublet a building or part of a building when you allow someone to use it and you take rent from them, although you are not the owner of the property and pay rent for it yourself.
3. Who is a Sublessor?
A sublessor is a person who rents a space from a landlord and then rents out the same space to another renter. An example of a sublessor is a Nigerian who rents her apartment to someone for 3 months while she (the main renter) travels to the UK. As a tenant who sublets a property, you are the sublessor
4. Who is a Sublessee?
A sublessee is sublessee is someone who holds a lease, which was given to another person for all or part of a property. An example of a sublessee is a Nigerian who has the lease for a 4 bedroom apartment that is already being leased by another party.
Now that you know what subletting is and how it applies to apartments and houses, do you need to sublet your apartment? Below are several things that you should know and tips that will guide you before you allow someone move into an already rented apartment.
5. Does Your Lease Allow For Subletting?
Before you sublet your apartment or house, it is important that you confirm that your lease allows you to legally do this. Quite a number of leases do not allow for subletting and this is solely based on the discretion of the landlord.
In a situation where your lease does not allow for subletting, you can discuss your special circumstance with your landlord who has the power to review your lease to allow for subletting.
If your lease does not mention whether it allows for subletting or not, you still need to discuss this with your landlord with the hope of getting his/her approval to allow you sublet your space.
6. Are You Aware of the Process?
If you are fortunate to have a lease that allows you to sublet your apartment or house, you still need to follow the provisions and due process by informing your landlord before it happens.
Your landlord has to know that you are subletting before it happens and he/she has to approve it. You should also consider letting your neighbours know that you are subletting your space. This way, they know about the change in your lease so that they can let you know if they notice anything out of the ordinary happening within or around your house or apartment.
7. How Do You Find Potential Sublessees?
There are several ways of finding potential sublessees. The safest place to search in Nigeria is among friends, family and non-strangers. This will include friends, colleagues and a host of other people you know. You can also extend your search to a religious community; especially where you worship.
Seun Agbabiaka is a software developer in Lagos. He rented a 3-bedroom apartment in the Oregun axis of Lagos for N800,000. three months after, he ran into an old friend from school who needed self-contained apartment but hadn’t found a place he liked. They were really close while in school and Seun’s lease allowed for subletting. He met with his landlord, discussed his plan to sublet one room to his friend with him and everything worked out fine. This is an example of how the process should go.
This is one way to find a subletter. However, you can also use agents or just ride on popular social media platforms like Facebook, Instagram, Twitter and WhatsApp.
8. How Important is the Lease?
You should always remember that a lease is a contract between you and the landlord. In a case of subletting, when you sublet, you merely add another layer of responsibility and accountability to the already existing lease.
As the primary tenant of the property that you occupy, subletting does not absolve you from the responsibility of remitting your rent as at when due. You will also be held responsible for damages associated with the property you rented.
9. Who Are the Parties Involved in a Sublease?
When you sublease your apartment or house, the contract is between you, the sublessee and in most cases, the landlord. The fact that the sublessee is subletting the space from you doesn’t mean things have to be taken for granted.
The sublessee has to go through the same process you went through before renting the apartment/house and this includes a background check. To secure a nod of approval from all parties involved, the sublessee may be required to make provision for a security and damage deposit.
10. Is the Sublease Contract Complicated?
As you might have guessed, the sublease contract has to be thorough but not complicated. Be sure to have everything about the contract well documented.
It is the responsibility of the landlord to provide you with contract specifications or the main contract. Remember to document any special conditions that you are able to negotiate with the landlord. Consider creating some house rules to ensure that both you and the sublessee are comfortable with each other.
11. Is There a Need For Inspection?
Be sure to carry out inspections before the sublessee moves in and when he/she moves out. Consider going the extra mile of taking pictures to document of the property when the sublease begins as well as when it ends. You might also want to have a move-in checklist as part of your documentation.
12. Do You Need to Secure Your Personal Belongings?
Don’t overlook or neglect your valuables. If you will be travelling, remember to secure your personal effects. If you intend to leave some of your furniture in certain parts of the house such as the living room, you should take pictures from time to time for documentation.
13. What Happens to Payment Arrangements?
Delay in payment arrangements should not be encouraged in any way. Subletting your house or apartment is not a joke and should not be treated as such. Ensure payment should is received on time.
In a situation where the contract mandates the original tenant to make payment, adequate time should be given to the sublessee to make payment.
Final Thoughts on Subletting Your House
The original tenant is usually responsible for the payment of the lease. This brings us to the fact that in most cases, subletting your house will not cover the full payment of your rent. Experts estimate that subleasing, will at best cover 70% of your rent.
Consider having a contact within the neighbourhood to check on your home as well as being available to your sublessee in case something that requires urgent attention comes up. Pay this contact if you can. It will go a long way. If the whole idea of subletting your house or apartment still makes you nervous then just don’t do it.
