4 Risks of Subletting and How to Avoid Them

By Alicia Geigel on December 26, 2020

This article is brought to you by GradGuard. We protect college students and their families from the financial risks of college life, like providing a refund for tuition or replacing a stolen backpack when your school may not. When the unexpected happens, GradGuard’s tuition insurance and renters insurance can help you get back on track.

With the uncertainty of the coronavirus pandemic, you may have certain circumstances that take you away from your current location, such as an urgent job opportunity or the need to return home. As a student with an apartment, either on or off-campus, it can hard to figure out what to do if this situation arises. You don’t want to put obligations on hold, but you also don’t want to spend unnecessary money on rent and utilities when you don’t have to.

Subletting your apartment can be a great option to not only help you save money but also give you the freedom to do what you want or need to between semesters or throughout the school year. As with anything, subletting comes with its risks, so it’s important to know exactly what you’re getting into before you jump into it.

Are you currently a student living in an apartment? Is life taking you away from where you are at the moment? Considering subletting your apartment, but don’t know the risks associated with doing so? Here are four tips to help you familiarize yourself with these risks, and give you tips on how to best tackle subleasing your space!

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Be Cautious of Considering Strangers: Before you jump right into subletting your space to a friend or potential stranger, it’s important to recognize and evaluate the risks of doing so. Subletting your apartment or home to someone has the potential to go well or go terrible, depending on the tenant. If in a pinch, you may not have the chance to conduct background checks or vet through the potential candidates. When allowing sublets to someone you don’t know, you run the risk of being stolen from or even having your property damaged in certain ways. If this sounds like something that you don’t like or perhaps cannot control, allowing sublets may not be for you, and you may want to consider alternate options.

Finding the right person to sublet your apartment to can be difficult, especially if you don’t know where to start your search. It is smart to begin your search among those who are closest to you first, rather than jumping onto Craigslist right away. Ask family, friends, classmates, or acquaintances if they are interested or know anyone who is interested in renting a sublet. The right person may just be a text or phone call away!

Additionally, Laura Gaskill, a Houzz Contributor writes on Forbes, “Just because it’s a short-term rental situation doesn’t mean you shouldn’t be just as careful as a landlord looking for a long-term tenant. Ask for a security deposit, check references and get a signed rental agreement.”

Protect Your Property: Renting to an individual that you hardly know or don’t have much of a relationship with always runs the risk of leaving your property vulnerable- vulnerable to damages, vulnerable to being stolen, or vulnerable to being tampered with in some way. First and foremost, it’s important to remove any valuable items from your apartment prior to the subletter moving in. Doing so can eliminate the risk of your precious items being broken or damaged in any way. Plus, this gives you the peace of mind knowing that you have your belongings in your possession rather than with the subletter.

Another way to help protect your property is to take before and after pictures of your space. Just like a landlord obtains before pictures before he or she rents out a property/unit to a tenant, you should prioritize getting “before” pictures of your apartment before the new tenant moves in. Snap pictures of any space that has the potential to be occupied by the person subletting your place, i.e. the kitchen, living space, bedroom, bathroom, etc. Getting pictures gives you a crystal clear idea of what your place looked like before they moved in, which can make it easier to detect potential damages.

Additionally, another way you can ensure the protection of your property is through renters insurance. GradGuard, a leader in tuition and renters insurance, is a great choice if you are considering renters insurance, as their policy covers belongings such as clothing, electronics, bicycles, books, etc.

Remember to Keep in Touch: Just because you aren’t living in your space anymore doesn’t mean that you can’t keep the doors of communication open between you and your subletter. While you are gone, be sure to keep in touch with the person/people living in your apartment. It’s not only important but it’s also healthy to keep open communication with them! Additionally, have someone in the area available to check in once in a while or when the tenants may need your help. Checking in with your subletter can help you ensure that they are respecting your space, keeping up with necessary bills, and overall, being good tenants.

Draw Up Your Own Sublease Agreement: In most cases, when subletting your space, you will go through your landlord (unless you own the space yourself). Even if you have a sublease agreement through your landlord, drawing up your own agreement between you and the subletter can grant you that extra layer of protection and security. Including specific terms and language in your lease between the tenant helps to clear up any miscommunication regarding the subleasing of your space. According to Kaycee Miller of Rentecdirect, a sublease “will provide extra protection for you in regards to who is ultimately responsible for rent payments, due dates and late fees, additional lease terms, and that the sub-tenant agrees to all the rules and conditions of living on your property.”

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By subletting your apartment, you will be able to do what you want/need to, all while helping out someone who needs a place to call home for a couple months. It’s a win-win situation!

It’s no secret that college costs a lot of money. Make sure your investment in higher education is protected with GradGuard. Our affordable tuition insurance and renters insurance plans are specifically designed for college students. Customizable plans make it easy to protect your tuition, room and board, laptop, bike, and so much more.

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