If you’re a Dallas renter, subletting your rental home or apartment can be a great opportunity to earn spare funds; however, you need to be careful because the situation is not always perfect – or legal. Even though your landlord is in favor of subletting, there are pros and cons that you need to think about before deciding to do so. In this blog post, we’ll go over the good and the bad of subletting. So, whether you’re on the fence about subletting or simply want additional information, read on!
The Pros of Subletting:
- Extra Money: Subletting your rental home or apartment can be a wonderful way to make extra money, primarily if you have a spare room you aren’t using or will be away from your apartment for an extended period of time. In these situations, having a subletter helps you pay your rent and can be a great financial benefit. If you acquire permission from your Dallas property manager first, it’s a win-win situation for both parties involved!
- Security: If you’re scared about leaving your rental home alone while you’re away, subletting can take away your worries by providing someone to watch over the property while you’re gone. Subletters who deal with long-term leases may also be willing to aid with any maintenance issues that emerge during their stay.
- Avoid Breaking a Lease: If you need to leave your rental home before the end of your lease agreement, subletting can help you avoid penalties and other issues associated with breaking a lease.
The Cons of Subletting:
- Increased Risk: Even though the majority of subletters are honest and responsible individuals, there are always risks involved. For illustration, there’s always a threat that they’ll skip paying the rent, cause problems to your rental home, or irritate the neighbors. Before you sublet, thoroughly vet each potential subletter and ensure they have a good credit and rental history. Also, make sure that they understand what is expected of them financially and in terms of property maintenance. You also need to consider renter’s insurance. Even though you may be properly insured, your coverage does not extend to subletters; make sure they have renters insurance.
- Serious Legal Problems: On occasion, subletting could violate the terms of your lease agreement or even be illegal in some cities and states. Check with your landlord and local laws before you commence the subletting process.
- Losing Control: Subletting implies 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, bear in mind that your roommate will be a stranger who may be hard to interact with. If you’re anxious about this, consider trying short-term subletting or creating a system where you can regularly check in on the property.
By evaluating both the pros and cons of subletting your rental home, you can make an informed decision about whether or not it’s a good idea for you. However, as long as you do your research and get clearance from your landlord, subletting can be a wonderful way to generate extra income while also providing you peace of mind.
Are you in the market for a new rental home? Real Property Management Engage might have just the place that you’re searching for. Browse our listings online or call 214-257-0101.
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.
