Subletting Query

Hoochiemama

Hi,

I have a question in regards to subletting. Im subletting my house for the month of July & August and im just wondering what I should do about a deposit? Do I ask for a deposit? If so, is it the months rent that I ask for? Not sure what people ususally do in this situation!

Any help appreciated

djimi

Subletting as in you are renting and someone is renting off you for the two months? Have you cleared this with your landlord? Most wouldnt be too happy with this arrangement.

How well do you know the people who are moving in? At the end of the day it is your deposit on the line if they cause any damage, so its up to you to decide how much you want to risk losing personally.

Hoochiemama

Hi Djimi

Yes I have cleared it with my landlord and he is fine with it.

They are friends of friends so not COMPLETE strangers. I was thinking of asking for 2 weeks deposit. I think this should be reasonable???

djimi

Again its up to you as to how much you want to risk your own deposit. If they cause damage that amounts to more than they have given you then its you and your deposit that will foot the additional bill. How much you ask for depends on how much you trust them really.

JustAThought

I've been stung by exactly that; twice.

Ask for the full deposit; up front ; and let them know it is not " in lieu" of the second months rent.

People respect that bit more what they have to pay for / replace ; and you have no dea how much you might regret it if you don't.

If they're between rents they will already have their deposit ( & if not that will ring alarm bells) and they " forget" to pay bills/ thought it was included/ spill stuff on the floor/ scrape open the plasterworkbringing in/out bixes/suitcases this will clear you.

They will be expecting to be asked ; be clear & businesslike : & you will still be friends at the end if it !!!!

Or maybe they have a Q of people wanting to lease them at the time that suites them for a short term lease with no deposit.... No?! Thought not!!! You re already doing them a mutually beneficial favour : but you can't expect to take the risk for damages ; theirs: their visitors; or pets.

Just Ask them when they will pay thefirst months rent and the deposit & let them
Know that you will need it before they move in.

: )

the_syco

djimi wrote: »

If they cause damage that amounts to more than they have given you then its you and your deposit that will foot the additional bill. How much you ask for depends on how much you trust them really.

Agreed.

Hoochiemama wrote: »

They are friends of friends so not COMPLETE strangers.

This could be good, as they're less of a chance of being complete scumbags, but at the other end of the scale it could be bad, as since you're a "mate of a mate" they may take the piss regarding bills, etc. Are they working, students, or why are they staying in your house for a bit?

Hoochiemama wrote: »

I was thinking of asking for 2 weeks deposit. I think this should be reasonable???

Any less would be stupid. Also, make it clear that they have to move out on X date, to ensure that you can move back in. Heck, maybe even say you'll move back in regardless.

djimi

JustAThought wrote: »

Just Ask them when they will pay thefirst months rent and the deposit & let them
Know that you will need it before they move in.

: )

In fairness for a two month rental period Id probably try and get the full three months out of them up front and tell them they will get a month back at the end if the place is left in a good state. They might not agree to it, but Id say the risk would be quite high that they would just see a month up front and a months deposit as their two months rent and forget all about the deposit.

Hoochiemama

Thanks for all the advice.

I spoke with my landlord and we decided that I would ask them for a months rent deposit on top of the first months rent.

I have done up a sub lease contract for them to sign also.

Thanks again guys