So you have just moved into your dream house. The space is perfect, the finishings to die for and you can’t get over the delicate fixtures. After a while, you have noticed that even after moving all your items in and even buying more, there’s still a lot of room and it feels like it’s just going to waste. So you begin considering subletting a room so as to take care of all the extra space and also make a little cash in the process.
Well, here are some considerations you need to factor in as well;
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Do you need permission?
The fact that you are a tenant means that you cannot make decisions of such a magnitude without informing your landlord. You might want to go through your tenancy agreement and find out if there is anything about subletting mentioned and speak to your landlord as well. In fact, it will be best if you get the permission in writing to avoid future disputes.
There are risks involved
Letting someone else live with you, share your resources and even privacy comes with its own risks. The fact that you have the permission to do it, doesn’t mean everything will now be easy. You are opening yourself up to potential theft, malicious destruction of property, or even personal harm. This means the decision to sublet should be made after careful thought and consideration. Which leads to the next point;
Make a list of potential sub-tenants
Subletting means opening the privacy of your home to a stranger and allowing them to make themselves at home, literary. Do you have a list? It is best to consider people you know first, like family and friends. People whose character you are conversant with and you will feel safe with. Even then, you still need to be careful to set ground rules early to ensure you co-exist peacefully. Having a family member or friend damage your furniture or painting can put a strain on your relationship. Ground rules are important.
Your status changes to a landlord
Even if you personally know the person you are subletting to, you need to remember that you are now a landlord. Treat the relationship professionally and act like you would when looking for a long-term tenant. Prepare a rental agreement, set ground rules, and ask for security deposit. Setting the tone of the relationship helps avoid future misunderstandings.
When you are a landlord, you need to protect your assets. Take photos detailing the condition of the room you are renting out and the rest of the house and have the new tenant sign. This way there will be no confusion over damage done when they are leaving.
When its all said and done,
Remember that subletting is not an easy thing to do, especially since you will have someone else living in what you consider your private space. You need to be sure and you need to be ready.