Summertime brings on a lot of change; sometimes, this means moving to a new home or renting yours out to someone else for the season for any number of reasons. Maybe you’re a student who wants to hold your rental over the season while you’re away. Or, maybe you’re a homeowner and you want a specific property open for a favorite tenant when he or she returns from an extended vacation, but can’t afford to lose three months’ rent. Whatever the case may be, there are a few things to keep in mind before you make any big moves that will help make the process easier for everyone.
Neither side can move forward with subletting, even just for the summer, without first making sure that the terms of the existing rental contracts allow for this kind of change. If for any reason they do not give permission to sublet, you’ll need to sit down altogether with the rental agency to discuss your options.
If you are a homeowner that wants to allow a tenant to sublet the rental property, you’ll want to be as involved in the decision regarding who will be living there in the interim as you were in choosing the original tenant. If your current renter has no one in particular in mind, we suggest asking among family and friends first, so that there’s the possibility of having someone you know take the vacancy while it’s available. If there isn’t, work closely with your current renter and your agency to find the best possible fit at minimal risk to your property.
Similarly, if you are a current tenant who will be on the move this summer, let your rental agency and the homeowner know if there is someone you think would be a good candidate and make sure that he or she is up to date on rental policies and rent rates before agreeing to take over the space for you. This way, you know that when you return home, it will have been taken care of and you can ease right back into your normal routine without any surprises.
When everyone involved knows what to expect, the transition between rentals and subletting agreements can be fairly simple. For homeowners, your main concern will be communicating your expectations to your temporary tenant. The rental agency will be sure to keep all contracts clear and concise, while continuing to maintain the home in its care. As for the current tenant, be very specific when referencing your departure and return dates so as to avoid any confusion, and remove any personal items that you do not feel comfortable leaving with the temporary tenant.
If you’re ready to consider renting a home this summer, or are a homeowner looking for another source of income, contact Intracoastal Long-term Rentals and let us discuss your options in coastal North Carolina!