Subletting is renting a place that you rent out in parts. Example is you rent an apartment with 2 bedrooms and then you sublet 1 bedroom to another tenant. Some tenants are doing that commonly in a house that they rent but usually with the permission of the landlord. When we rented a big house with 3 bedrooms, the landlord even encouraged us to sublet 1 or 2 rooms because there were only the 2 of us then (my husband and I). But since we want privacy so we just shouldered the expensive rent and had the house all for us.
I think subletting seems to becoming more and more popular, especially since a lot of houses and apartments are starting to charge higher rents. People won't want to move and find another place to live, so they'll arrange to rent out a spare room they might have. As long as the original landlord agrees to this, I don't think it's too much of an issue, at the end of the day, if your rent is paid and on time, that's all a landlord is concerned about.
Subletting is a great deal because it allows people to make extra money. I agree that if the owner agrees there is no problem, everyone wins. It's a sacrifice to share the house with someone though.
Subletting is a great idea if your landlord agrees to it. Our landlord gave us permission but I like my privacy too much to have somebody else living with me. I just wouldn't be comfortable in my own home. It is a great way to make extra money though and help get your rent paid. I know people who had a three bedroom apartment, sublet the two bedrooms and they lived there basically rent free even though it was their apartment. Of course, you are responsible for the people you are subletting to. If they do any damage then you have to come good for it.
It's a good way to deal with the rent if you are short on cash. I only view it as a short term solution though. I've been considering doing something like it once I buy my own place... just renting out a room to a student (or something similar) in order to help with the mortgage. Of course this is just a plan and I'm not sure if I actually want to do it but it could be a nice way to accelerate the mortgage payments for the first year or so.
Subletting is popular in some states, but not all states. It is more common in private homes where the owner actually resides. Long ago these might have been considered rooming houses. I myself have considered subletting my home. It works best in larger homes where it is possible to lock down certain areas that is given to one of the letters for their private use. My home is like that. For example there are living areas that are considered common areas, such as the living room, kitchen and bathroom, then the bedrooms, and maybe an adjoining room would be exclusive and lockable for privacy. It is a wonderful way to share upkeep and expense on a property. In my case I would be allowing my son's family usage of the majority of the home to spare them the higher cost of a rental. It can be a win win if you have the right people involved. I have also read of people opening their homes as like a hostel for travelers. This is probably far trickier and has some risk. You would have to check your local municipality on when you would be considered a B&B in that scenario.
Yes, the tenant should have the express consent of the landlord for subletting a rented property. And I agree that it's a great way of getting someone to share in the rental expenses. I know of a friend who rented an apartment and had the only 2 rooms rented out to his friends. In effect, he was sleepin in the living room and using the small stock room for his things. But mind you, he was renting the apartment for 5,000 and charged his 2 sub-tenants 3,000 each. Clearly, he nets 1,000 every months for that gimmick.
Subletting is a good option, especially if you have a spare room that is unused. I plan to put a mortgage on a 4 bedroom house and sublet 3 of the rooms out to other young business minded people and repeat the cycle with another property when the mortgage is fully paid off.
I know of some people who do that for business. Particularly in the business district, employees who live far from their place of work are always in need of a boarding house. In one apartment I know, it is rented for 4,000 (amounts in pesos). One room is rented out to 4 boarders at 1,000 each. There are 2 rooms so the take is 8,000 a month as against the 4,000 rent. But mind you, the utilities and all other overhead expenses amount to 2,000 so the profit if 2,000. Not bad eh?
I agree that subletting is a good idea especially if you as a tenant would want some extra cash or if you're short of cash to pay out your rent. It is becoming more and more popular since people are becoming more and more practical nowadays. The landlord, however has to allow you to sublet and as what L_B said, you have to make sure that the people you are subletting to are worth trusting and sharing your space with. This appears to be one of the big issues when it comes to subletting, you are actually risking losing your privacy and personal space to a stranger so he/she should be worth the your trust.
