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Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

Sublets & Temporary Renting?

What is really the definition of Sublets?

I assume it's renting a apt. or house that earlier renter couldn't pay or so...?

How does it work if I take over the lease?

Can I change the lease into my name or so,I wouldn't want her/him to benefit from my own credit?

What do I need to know and what do I need to look out for?

Does anybody know any good links for SUBLETS/TEMPORARY RENTING?

Thanks in advance:)

Update:

I have broken lease....

If the sublet require credit check,

am I better off if I can pay a few months rent in advance?

+ (I DON'T HAVE NO CRIMINAL RECORD OR ANY EVITIONS).

2 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    The definition of "sublet" is to rent or lease property from another person who is currently renting or leasing that property.

    The original lessee (renter) is not relieved of the responsibility to pay the owner of the property rent, and is still responsible to the owner of the property for damages.

    You pay that original renter for the use of all or part of the property, and you are responsible to the original renter for any damages.

    Some circumstances where this may happen include commercial property (where it is rather common). One company leases a building (for example) and then rents out spaces to smaller companies.

    It's somewhat less common in residential real estate, and many leases and rental agreements specifically forbid subletting, as the property owners want some control over who rents in their building.

    This is not the same as taking over a lease, where the new lessee (renter) is now responsible directly to the original landlord, even though the original renter may not be entirely off the hook either.

    This isn't common, as many leases do not allow the original renter to assign the lease without the permission of the property owner, but there are individual cases where it happens.

    Temporary rentals are an entirely different animal. Generally, this is simply a short-term rental, and is often done for vacation homes. For example, a nice beach house on Maui might bring in several thousand dollars a week (or even per day) in rental income.

    In commercial property, similar situations happen when a company has a short-term need for additional office space or storage room.

    I don't know of any good links for subletting, but for temporary rentals there are lots of them, depending on what you're trying to do. For residential property, you should look for "vacation rentals".

    Source(s): Realtor, ABR, ePRO
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  • 4 years ago

    Not without LL permission, unless your lease specifically allows it. The lease must specifcally allow it, not the other way around.

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