What Is a Residential Sublease?

A Residential Sublease, also known as a sublet agreement, sublease contract, or room rental agreement is:

• A contract between the original tenant (now the sublandlord) and
  a new tenant (or subtenant) that allows the subtenant to take over the lease or rent out part of the space in exchange for regular payments
• A document describing the length, or term of the sublease, payment details, property use, and improvements
• A formal outline of the rights and obligations of the subtenant and sublandlord during the sublease term

Who Should Use a Sublease Agreement?

Subletting may be a good option if you need someone to temporarily take over your lease.

Situations that typically call for a sublease include:

• Returning home from college for the summer
• Taking a long-term trip or studying abroad
• Leaving indefinitely to take care of a family crisis

Should I Sublet or Assign My Lease?

Both arrangements involve finding a new tenant for your property, but they have a couple of key differences:

• Use a Sublease Agreement if you're leaving temporarily and want
  a subtenant to pay your rent while you're away, or if you're subletting a portion of the space to a subtenant
• Use an Lease Assignment Agreement to transfer your lease if you're moving permanently, such as relocating to a new city or buying a house

What Information Do I Include in a Residential Sublease Agreement?

Your sublease contract should contain the following details:

• Type of property, such as a house, apartment, condo, or room
• Rental area: all or a portion of the premises
• Sublandlord, subtenant, and landlord information
• Sublease length, or term: fixed term or automatic renewal
• Financial details, including rent, utilities, and security deposit
• Requirement for renters' insurance
• Option for a check-in inspection
• Landlord's consent

How Long Does a Sublease Agreement Last?

You can offer a fixed term or automatic renewal sublease:

• A fixed term sublease ends on a set date, before the end of the master lease
• An automatic renewal sublease doesn't have a set end date and renews monthly or annually until the subtenant or sublandlord gives notice