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Updated about 8 years ago on . Most recent reply

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18
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5
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Lisa Montana
  • Investor
  • Baltimore, MD
5
Votes |
18
Posts

Should I allow tenants to sublet or find a new tenant?

Lisa Montana
  • Investor
  • Baltimore, MD
Posted

Some great tenants just told me that the offer they made on a house has been accepted. They've given me more than 60 days notice and offered to find subletters or new tenants to move in on April 1, so there would be no vacancy. Their lease allows subleasing with the landlord's prior written consent. Is it better to let them sublet or allow them to break their lease after they find a new tenant? Either way, I would run a credit and background check on the subletter or new tenant. One of my concerns is that I'm in the process of refinancing the property and sent the lender their 12-month lease. Hopefully, the loan will close long before April 1, so this might not be an issue. Thanks in advance for any input.

Most Popular Reply

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5,659
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Elizabeth Colegrove
  • Hanford, CA
1,833
Votes |
5,659
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Elizabeth Colegrove
  • Hanford, CA
Replied

Subletting = NO control

You finding the tenants = ALL the control

Personally NO way would I allow anyone sublet. If a tenant wants to break the lease, they are welcome. I require 60 days notice and provide a 2 month break lease fee.  I am in an area that is much cheaper to buy than rent, so this happens often. This way when people do break the lease, I am paid for my time

Hope this helps! 

Good luck

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