If you’re an Alpharetta renter, subletting your rental home or apartment can be the best approach to make some extra money; but on the flip side, you necessitate to be careful because the situation is not always perfect – or legal. Granting that your landlord specifically agrees to subletting, there are pros and cons that you need to weigh carefully before making a decision. In this blog post, we’ll look at both the good and the bad of subletting. So, whether you’re on the fence about subletting or just interested in more information, read on!
The Pros of Subletting:
- Extra Money: Subletting your rental home or apartment can be an appropriate way to make additional money, exactly if you have a spare room you aren’t using or will be absent from your apartment for an extended period of time. In these conditions, having a subletter help you pay your rent can be a massive financial benefit. As long as you take permission from your Alpharetta property manager first, it’s a win-win situation for both parties involved!
- Security: If you’re concerned in regard to leaving your rental home vacant while you’re afar, subletting can appease your fears by allowing someone to watch over the property while you’re absent. Subletters who take up long-term leases may furthermore be willing to help with any maintenance issues that emerge during their stay.
- Avoid Breaking a Lease: If you have to leave your rental home before the end of your lease agreement, subletting can give an effective way for you to avoid penalties or other charges certainly associated with breaking a lease.
The Cons of Subletting:
- Increased Risk: Though the majority of subletters are honest and responsible individuals, there are always risks involved. For instance, there is, time and again, the risk that they could certainly stop paying the rent, damage to your rental home, or disrupt the neighbors. Before you sublet, carefully vet each potential subletter and make sure they have an impressive credit and rental history. Indeed, make certain that they clearly know and will respond to what is expected of them financially and in terms of property maintenance. You further need to check about the renter’s insurance. Even though you may be completely insured, your coverage does not extend to subletters; ensure they have renters insurance.
- Potential Legal Problems: In many situations, subletting could violate the terms of your lease agreement or even be illegal in certain cities and states. Check with your landlord and local laws before you kick off the subletting process.
- Losing Control: Subletting can, as well, entail that you’ll have less control over who is living in your rental home and how it’s being taken care of. If you are subletting a room, take into account that your roommate will be a stranger and may be hard to live with. If you’re uneasy regarding this, take into consideration trying short-term subletting or creating a system where you can regularly check in on the property.
By meticulously looking into both the pros and cons of subletting your rental home, you can make an informed decision in connection with whether or not it’s best for you. As long as you do your research and get permission from your landlord, of course, subletting can be an efficient way to make some much needed extra cash and impart you peace of mind.
Are you in the market for a new rental home? Real Property Management North Point might have just the place you’re on the lookout for. Browse our listings online or call 404-905-9455.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
