subject: Useful Suggestions For Subletting Your Home To A New Tenant [print this page] Subletting your home is a great idea if you find yourself in a particular situation. There are any number of reasons you may need to do this, from going on a long holiday to temporarily relocating for work. Many people will have this happen in their life.
Many people choose to sublet their home under these kinds of circumstances instead of selling it immediately. It is a less permanent solution that can give you time to figure out what you really want to do with the house.
If you decide to sublet your home instead of sell it, the property remains under your ownership and you can do what you want with it when you move back in later. You do not need to worry about equities since the new tenant will be the one responsible for your payments.
There might be local restrictions or regulations in your area in regards to subletting a home. Be sure to consult with your local city council and register as a landlord if you find that it is necessary.
Gather as much information as you can regarding rental prices for similar properties in the same location. You can set the rental price for your home based on this information.
You need to do a check on however wants to rent your house to ensure that they will be good tenants. By doing a background check, you will save any number of possible problems later on.
You have to keep a precise log of when rent is paid, and also be prompt about repairing and maintaining your property. Also, you have to make sure that you give your tenant notice before coming around and ensure that their privacy is respected.
Maintaining good communication with the person subletting your home is also important. This can be a good way of catching small problems before they turn into larger ones.
