Subletting Your Apartment
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Things to consider before subletting your apartment
It is very important that all of the original tenants come to an agreement about the subtenants even if only some of the original tenants are leaving. The original lease probably contains a "joint and several" clause which makes each tenant responsible for the entire rent. Thus, if a subtenant does not pay their rent, the remaining tenants are still legally responsible to pay the entire monthly rent fee.
It is strongly recommended that you charge your subtenant a refundable security deposit, in case any damage occurs to your apartment during the sublease period. The amount is up to you, but it cannot exceed the value of one and one-half times the subtenant's monthly rent. If you do take a security deposit you must follow the Michigan security deposit laws. Please refer to A Guide to Security Deposits for further information.
- Which tenants are leaving during the lease period?
- What is each person's responsibility for finding subtenants?
- Who receives the rent credit provided by each subtenant?
- Does every lessee have the right to veto a potential subtenant?
It is very important that all of the original tenants come to an agreement about the subtenants even if only some of the original tenants are leaving. The original lease probably contains a "joint and several" clause which makes each tenant responsible for the entire rent. Thus, if a subtenant does not pay their rent, the remaining tenants are still legally responsible to pay the entire monthly rent fee.
Advertising
Some great ways to find subtenants are:
- Posting flyers
- Word of mouth
- Placing ads in newspaper and online classifieds
Becoming a Landlord
While showing your apartment, be careful not to misrepresent your apartment; do not lie or hide any shortcomings. Also, it is in your best interest to check out the potential subtenant. The landlord can hold you legally responsible for subtenant's damages and unpaid rent.
Signing the Sublease Agreement
The agreement should contain:
- The amount of rent to be paid
- Directions for payment of utilities
- Move-in and move-out dates
- The amount of the security deposit (if applicable)
It is strongly recommended that you charge your subtenant a refundable security deposit, in case any damage occurs to your apartment during the sublease period. The amount is up to you, but it cannot exceed the value of one and one-half times the subtenant's monthly rent. If you do take a security deposit you must follow the Michigan security deposit laws. Please refer to A Guide to Security Deposits for further information.