My current tenants, a young couple, have broken up and are wanting to break the lease 4 months early. Their lease expires on April 30, 2020. They told me this at the end of December and I have started advertising it on Rentfaster. Because it's January, I've had 2 inquiries, both of which flaked out. I told them to expect this as in my experience, it's a terrible time to be renting a place.
They're now asking about a sublease. In my lease, it says no subleasing is allowed. So, my first question is: Do I have to allow this? Is there an act that says I must or is my lease okay in this situation?
Second, if they do have friends or people they know interested, should I allow it?
My concerns are that A) I have raised the rent as it's too low right now. So a new tenant would be paying $100/mo more than the current ones. With a sublease, it would be the same rent, but in May I would need to raise it. If they've only been there 2-3 months, they probably won't like that and having people move in and out every few months is probably going to cause damage.
Second, my tenant is saying that with a sublease, the new tenants would not have to pay a deposit because they are taking over the current lease with their deposit. This seems odd, since I can almost guarantee they would lose some of the deposit due to cleaning and damage, AND I also have in the lease a $300 re-rental fee.
Thoughts?
They're now asking about a sublease. In my lease, it says no subleasing is allowed. So, my first question is: Do I have to allow this? Is there an act that says I must or is my lease okay in this situation?
Second, if they do have friends or people they know interested, should I allow it?
My concerns are that A) I have raised the rent as it's too low right now. So a new tenant would be paying $100/mo more than the current ones. With a sublease, it would be the same rent, but in May I would need to raise it. If they've only been there 2-3 months, they probably won't like that and having people move in and out every few months is probably going to cause damage.
Second, my tenant is saying that with a sublease, the new tenants would not have to pay a deposit because they are taking over the current lease with their deposit. This seems odd, since I can almost guarantee they would lose some of the deposit due to cleaning and damage, AND I also have in the lease a $300 re-rental fee.
Thoughts?