LEARN HOW TO MANAGE YOUR SUBLET WHILE AT YOUR INTERNSHIP
Part one described how to post your sublet. You can read that blog post by clicking here.
The subleasing process does not end when someone moves into your apartment. In fact, if you aren’t well prepared, it could get harder. When someone chooses your place, start creating a plan to manage logistics while you travel away from your school’s city. In order to help get you started for a smooth subleasing experience, RenTrust compiled four categories to consider before moving out.
1. Rent and Utilities
One of the first important decisions you need to make about the cost of rent is how you plan to account for the variable cost of utilities. You can either price it into the rent and offer “utilities included” or send a request for the cost each month to the renter. Once you have made that decision, setup a method of payment with your subleaser so that rent isn't forgotten and is paid on time. The following questions are a good way to get started:
- When is rent due each month?
- How are they paying // How am I receiving the funds?
- What is my action plan if they do not pay on time?
2. Emergency Contacts
Create a document that has all the necessary people to call in case of emergency. Best practice is to give a hard copy and electronic copy to your renter. Here is a brief list of questions to help you figure out the essential contacts:
- Who do they contact if they lose their keys?
- Who should they contact for maintenance requests?
- How to best contact you if they can’t reach you by phone?
3. Roommate Considerations
This category can get complex because it could be your roommates, someone they are bringing with them, or a random roommate situation all together. In general, the best thing to do is be upfront and set expectations by:
- Telling them about the positives and negatives of your roommates
- Connecting with the person they are bringing into the house and establish communication so both are accountable
- In a situation with random roommates, arranging a time for everyone to meet together and facilitating the connection between all parties
4. RenTrust’s Subleasing Platform
RenTrust was created to make managing logistics easier by locating all of the resources you need into one place. The platform creates efficiency by allowing you to:
- Post your home in a marketplace where it stands out
- Select the perfect subletter that is a student just like you
- Manage payments from one central hub