Subletting Your Rental Home: The Pros and Cons

If you’re a Riverside renter, subletting your rental home or apartment can be a great way to make some extra money; however, you must be careful because the situation is not always perfect – or legal. Even if your landlord allows subletting, there are pros and cons that you need to weigh 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 looking for more information, read on!

The Pros of Subletting:

1. Extra Money: Subletting your rental home or apartment can be a great opportunity to generate some extra income, mainly if you have a spare room you aren’t using or will be away from your apartment for an extended period of time. In such cases, having a subletter helps you pay your rent and can be a huge financial benefit. As long as you obtain permission from your Riverside property manager first, it’s a win-win situation for both parties involved!
2. Security: If you’re apprehensive about leaving your rental home unoccupied while you’re away, subletting can put your mind at ease by giving someone to watch over the property while you’re away. Subletters who take on long-term leases may also be able to help with any maintenance issues that come up during their stay.
3. Avoid Breaking a Lease: If you have to leave your rental home before the end of your lease agreement, subletting can offer a way to avoid penalties or other issues that could occur with breaking a lease.

The Cons of Subletting:

1. Increased Risk: Even though many subletters are honest and responsible individuals, there are always risks involved. For example, there’s always a chance they could stop paying the rent, destroy your rental home, or annoy the neighbors. Before you sublet, you should carefully vet each potential subletter and make sure they have a good credit and rental history. What’s more, make sure that they know what is expected of them financially and in terms of property maintenance.  You should also think about renter’s insurance. Even though you may be properly insured, your coverage does not extend to subletters. Make sure they have their own renters insurance.
2. Potential Legal Problems: In other instances, 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 begin the subletting process.
3. Losing Control: Subletting can also indicate 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, don’t forget that your roommate will be a stranger and may be hard to cope with. If you’re anxious about this, you might want to try short-term subletting or set up a system where you can regularly check in on the property.

By thinking about both the pros and cons of subletting your rental home, you can make an informed decision if it’s a good idea for you. As long as you do your research and get consent from your landlord, however, subletting can be an ideal approach to generate additional funds and provide you with peace of mind.

 

Are you in the market for a new rental home? Real Property Management Integrity might have just the place you’re searching for. Browse our listings online or call 951-530-1600.