As a property owner, it’s important to address various potential issues in your lease or rental agreement to avoid misunderstandings. One issue you should consider is whether you’ll let your tenants sublet their rental units. While some landlords allow this practice, there are several good reasons to prohibit subletting in your lease.
Know Who’s Living on Your Property
When you allow your tenants to sublease their rental units, you’ll have to rely on them to vet the applicants. They may not conduct the same background checks or follow the same evaluation process that you use as the property owner. This can leave you with a tenant you don’t know and one who doesn’t meet your standards.
Avoid Rent Collection Issues
If your tenant sublets your apartment to a third party, you’ll have to rely on them to explain the rent collection process. If the rent is late, you could experience an extended delay in collecting the rent. You might have difficulty contacting the new tenant or have to wait for the original tenant to clear up the matter.
Enforce Your Lease Terms
Even if you use a property management firm, allowing subletting can complicate how tenants use your property. A sublessee may not have read the initial lease that your original tenant signed. The original tenant probably had another lease drawn up that summarized the initial document.
In this case, the sublessee might not know when they’re violating the terms of your lease. This can result in violating a pet policy, smoking restrictions, or other terms of the initial lease.
Let Us Help You Manage Your Property More Efficiently
Reliable Property Management, Inc. can help you remain in full control of your rental property and how it’s used. To learn more about the range of services we offer, call us today at 443-869-3799.