Apartment Subletting in Las Vegas
Problem: You want to move out of your rental property, but your lease term isn’t up. Breaking a lease does not discharge the obligation. Solution: Apartment subletting. See what to consider in Las Vegas if you need to move out early.
Problem: You’re a renter in the middle of a lease, but you need to move elsewhere — maybe for a new job, or because of an event in your personal life. You’re technically obligated to pay rent for the entire term of your lease, and breaking a lease does not discharge the obligation. Solution: Apartment subletting …maybe.
Your Current Lease
If you want to try apartment subletting, you’ll need to do your homework. First, review your lease agreement. Confirm the amount of time still on the lease, monthly grace periods, and late-payment penalties. Check for any clauses regulating or prohibiting a sublet.
Although Nevada State law does not prohibit a main tenant from subletting his or her leased dwelling, most landlords and management companies around the Valley include lease provisions against it. So don’t be surprised if you find your agreement falls into this category. A typical residential rental agreement would make reference to this under the heading for “conveyances and uses.”
So, say your lease prohibits a sublet, as most Las Vegas rental properties do. Now what? Are you stuck in place? Don’t despair! The day-to-day rental practices in Las Vegas actually conform rather well to the reality that there is a transient element in the Valley’s population.
People move into town, move around, or move out with regularity. There is of course a large “rooted” population as well, but even among this sector, there’s some shifting in accordance with real estate opportunities, making space for a larger family, and other such factors. Apartment subletting poses risks for both landlord and tenant; a good, legally binding sub-lease agreement can alleviate some of these concerns, but many Las Vegas landlords prefer other options.
Release from a Lease
Rather than enforce draconian measures to hold people captive in their dwellings when they prefer to move on, or impose the full weight of lease term responsibility on a tenant, most apartment complexes take a more workable approach. Catherine Clark, a longtime local apartment complex manager, provides some insight into the procedures practiced by most apartment owners around town.
Here’s what she says: If you find a new tenant to take your place, you can ask management to review this person’s standard rental application. If approved, he or she can be added as an additional lease holder. In this case, both the original tenant and new applicant sign a resident release form specifying the original tenant is departing and the new tenant is taking over as the responsible party. This clears you of any responsibility for the balance of rent payments, mandatory renters insurance, or any other obligations.
If you find a new tenant, that can work out perfectly. However, what happens if you can’t find a suitable replacement to take over the lease? Even if you can’t find someone, most complexes will accept a three-month notice to vacate in exchange for one to three months of rent payments as a penalty for breaking the lease.
As Clark explains, the earlier you notify management, the fewer rent payments you will have in penalty. So the good news about apartment subletting in Las Vegas is: You may not have to!
Image Source: Flickr