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Updated over 5 years ago,
I want to Sublet/Sublease as a Renter
I'm currently wanting to get a 4-plex and house hack it. At the moment, I am unable to do that. For the time being, my wife and I are just renting until we are in the position to do so. We are renting a 1 bed 1 bath apartment for around $785 a month in Provo UT. An idea came across my mind to help us lower our living expenses. What if we find a 2 bed 1 bath apartment for around $850-$900 and then sublet out the 2nd room to a single student/professional (not BYU student because of rules. So most likely UVU students or single professionals) and rent out the room for $400-$425 a month? This would decrease our living expenses to $425-$500 a month! We would like to look in Provo, Orem, American Fork, or possibly Springville.
Things that I think I should look out for are
1. The zoning laws which I think are 3 unrelated persons in a single unit at a time. (In this situation, would my wife and I be related counting as 1 person? Or are we 3 unrelated persons because we are not related to the hypothetical future tenant? In other words, would we be able to have a married couple + 2 other singles in one unit?)
2. The rules in the specific contract that I have with the landlord to make sure that I don't get evicted if I sublet to another person. (This will include the city laws. I know that you aren't supposed to AirBNB in some cities. I think this is not allowed in Provo. But it would be different because they would be renting from month-to-month and not short-term rental.)
In short, is this a good idea, and have people done it before to lower their rent expenses? What else should I know before making a plan to put it into action?