Today, most of the students have to leave their hometown and go to some other city for further studies. They have to live in rental apartments until the completion of their degree. After the completion of their education, they return to their homes. The major question arises over the future of the rented apartment that is being left behind.
Students often ask other students to live in their house as new tenants. However, the verbal agreement associated with it is not enough. There is an entire contract that is to be signed to change the tenant of the apartment under the name of the sublet agreement.
What Is A Sublet Agreement?
A sublet contract is a legal document that comes in handy when the current occupant gives his or her rights of living at a property to a new occupant. This contract is also known as a sublease contract, sublease contract for a residence, room, or apartment sublease agreement. It involves signatures between three people comprising the owner of the property, the previous lessee, and the new lessee.
The lease cannot be shifted to a new tenant without the permission of the owner. Under this agreement, the previous lessee writes the duties and responsibilities of the property. They are needed to be fulfilled until the new lessee signs upon these terms and conditions. With the help of this agreement, the new tenant gets to know the rules and regulations of living at that particular property.
This contract provides information about the property rent and utility bills that may help the new occupant to clear the confusion. In cases where the only room is subleased out of an entire property, the original lessee will be responsible for paying the rents. The original lessee is held accountable if any rule is violated or any obligation is not fulfilled.
What is Sublet Agreement Used For?
Sublet agreement forms are legally authorized contracts that are used to sublease a property. Along with this, they can be used for multiple purposes. Some of the purposes of this agreement are as follows:
- Describe the Premises Clearly: It provides the information about the premises in detail so that the lessee gets to know what they will be renting. It is necessary to know whether it is an apartment or just a room.
- Plan the Terms of the Sublease: This agreement enables the property owner and the lessee to decide whether the payment for the rent will be made monthly or quarterly. The determination of a new scheme of payment is declared, or the parties continue as with the previous lease.
- Explains the Original Lease Provisions: This document allows the lessee to know about the protocols for living at a property. The property owners clear whether smoking, drinking, or keeping pets within the premises is allowed or not.
- Demonstrates the Landowner’s Permission: The main purpose of this agreement is to get the permission of the landlord. It is known that without the consent of the landowner, the lease cannot be approved.
Types of Sublet Agreement
There are different kinds of properties for which a sublet contract is used. Some of the types of the sublet agreement are as follows:
- Sublet Agreement for a House
This agreement is developed when a renter is leaving the house and wants some other family to take their place and be the new renter. In this document, the details of the house are provided. This detail includes the number and types of rooms along with the total area of the property.
- Apartment Sublease Contract
The apartment sublease contract is designed mostly for students. With the help of this agreement, a student can adjust other students in the apartment by making them sub-lessees of the contract.
- Subletting Form for a Parking Lot
A single parking lot can also be reserved for regular use. With the existence of a sublet agreement, a person will park their car only in the rented parking lot. To transfer the lease or share the parking area, this agreement is signed between the sub-lessees and parking lot owner.
- Sublet Contract for a Garage
The people who want to rent out their vacant garages can use this contract. People can sign this agreement to use the garage according to the conditions of the owner.
How Does Sublet Agreement Work?
The sublease agreement forms are simple agreements. By using CocoDoc, an online tool, anyone can make this contract form easily by following a few series of steps.
- Write the Names of the Contract Holders and Details of the Property: First and foremost, the name of the property owner, lessee, and sub-lessee is written as separated fields provided by CocoDoc free template. In the next field, the name of the property with a brief description is written.
- Mention the Date of the Contract: Secondly, add the starting and ending date of the contract. All the stakeholders must verify these dates individually to eliminate any chance of error.
- Include Terms and Conditions of Sublease: All the obligations, including the rules and regulation of the sublease, is specified in this field. The owner and new tenant must observe this clause to avoid any misunderstandings.
- Insert Payment method and Amount of Rent: The next step is to include the mode of payment of the rent along with the amount of the rent. The amount of rent is usually kept the same as paid by the previous occupant.
- Conclude by Adding a Security Deposit and Signing the Document: The final step is to add the amount of the security deposit and information about returning it. The document is finalized after being signed by all three contract holders.
It would not be wrong to say that the sublet agreement is one of the most important elements of the subleasing process. This contract helps people to get to know the property, with all the obligations for living within the particular area.
This agreement can be created using CocoDoc as this tool provides ease to the user by supplying easy-to-use functions. Other than this, users can use different subletting contract templates to prepare their version of the sublet contract.