If you’re a Bonaire renter, subletting your rental home or apartment can be the best solution to make some extra money; though, you ought to be careful because the situation is not always perfect – or legal. Even as your landlord entitles subletting, there are pros and cons that you need to seriously weigh previous to 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 hoping for more information, read on!
The Pros of Subletting:
- Extra Money: Subletting your rental home or apartment can be an efficient way to make a little more money, mainly if you have a spare room you aren’t using or will be absent from your apartment for an extended period of time. In these circumstances, having a subletter help you pay your rent can be a serious financial benefit. As long as you possess permission from your Bonaire property manager first, it’s a win-win situation for both parties involved!
- Security: If you’re apprehensive about leaving your rental home vacant while you’re elsewhere, subletting can reduce your fears by allowing and equipping someone to watch over the property while you’re out. Subletters who decide to take on long-term leases may further be ready to deal with any maintenance issues that come during their stay.
- Avoid Breaking a Lease: If you have to leave your rental home before the end of your lease agreement, subletting can bestow a way out for you to avoid penalties or other drawbacks correlated with breaking a lease.
The Cons of Subletting:
- Increased Risk: Although quite a lot of subletters are honest and responsible individuals, there are always risks involved. For instance, there is oftentimes the risk that they could just stop paying the rent, cause some damage to your rental home, or upset the neighbors. Before you sublet, conscientiously vet each potential subletter and always warrant they have an appropriate credit and rental history. Likewise, ensure that they know what is expected of them financially and in terms of property maintenance. You additionally need to take into account the renter’s insurance. Even though you may be insured, your coverage does not extend to subletters; make sure they have renters insurance.
- Potential Legal Problems: In most situations, 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 get cracking on the subletting process.
- Losing Control: Subletting can likewise mean 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, call to mind that your roommate will be a stranger and maybe toilsome to live with. If you’re anxious in connection with this, consider trying short-term subletting or developing a system where you can regularly check in on the property.
By earnestly considering both the pros and cons of subletting your rental home, you can make an informed decision in regard to whether or not it’s correct for you. As long as you do your research and get permission from your landlord subletting can be the best thing to help you make extra cash and provide you peace of mind.
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.