A sublet, or sublease agreement, is when a tenant adds someone new to an existing lease, usually to replace someone who is moving out. The new person, known as the subletter, assumes the rental payments and lives in the rental property. The original tenant is still liable for the obligations stated in the lease agreement, such as the payment of rent each month.

Subletting may or may not be permitted in the terms of the original lease, and may be subject to additional restrictions by jurisdiction. If a tenant wants to sublet, they should check their lease agreement for any sections referencing subletting. It may be forbidden altogether or allowed with pre-approval under certain circumstances. If the lease doesnt contain any information about subletting, the tenant should reach out to their landlord for clarification.

Subletting can be established unless the original lease forbids it. However, in most cases, the owner must be notified and must approve any subletting arrangement created by the tenant. The sublease agreement outlines the rules for subleases, including the rights and obligations of the subletter and the original tenant.

Subletting can be a legitimate option for tenants who need to terminate their lease early, but do not want to incur the added cost or penalties associated with breaking a lease. However, it still leaves landlords in a tough situation, as they do not know who is living in their investment property.

Here are some key takeaways about subletting:

• A sublet is the re-renting of property by an existing tenant to a new third party for a portion of the tenant’s existing lease contract.
• The subletter assumes the rental payments and lives in the rental property, but the original tenant is still liable for the obligations stated in the lease agreement.
• Subletting may or may not be permitted in the terms of the original lease, and may be subject to additional restrictions by jurisdiction.
• The sublease agreement outlines the rules for subleases, including the rights and obligations of the subletter and the original tenant.
• Subletting can be a legitimate option for tenants who need to terminate their lease early, but it still leaves landlords in a tough situation.