Much like a lease, a sublease agreement is an important document which a student should create before they choose to sublet. A sublease agreement is a legally binding contract that outlines the terms and applicable information about the arrangement.

The following is a guide to creating a sublease with the essential sections to include. A sample sublease agreement has also been provided below.

Part I:  Names of the parties signing the agreement and date

This step is pretty straightforward. Include the full (legal) name of the original tenant and the individual who will be subletting, as well as the date. The original renter is commonly referred to as the ‘Tenant’ and the person subletting is referred to as the ‘Subtenant’ in the agreement.

Part II:  Property information

Include the full street address of the property. If the sublease isn’t for the whole unit, be sure to specify this. For example, this applies if a person is only subletting a room within the house.

Part III:  The term of the sublease

This section outlines when the sublease will begin and when it will conclude. It’s important to include these possession dates, as to avoid any misunderstandings.

Part IV:  The rental rate

Include both the amount of rent which will be paid each month and when it must be paid by. It’s also important to specify who the subtenant is to pay rent to, whether it will be the landlord/owner or the original tenant. In many cases, the original tenant will collect the rent and pass it onto the landlord/owner.

Part V:  Additional fees/security deposit

This section will outline any additional fees such as a security deposit, pet fees, application fees, or any other type of miscellaneous fees. It’s important to be transparent about all fees, so that there are no surprises for the subtenant. It’s also advised to include the terms and conditions of a security deposit and what is required of the subtenant, in order to get it back.

Part VI:  Sign and date the agreement

As with any contract, make sure both parties sign and date the agreement.

Below is a sample sublease agreement that should only be used as an example. Students are advised to research the legal requirements of subletting in their province or state, and to create/use a sublease agreement based on those legal requirements and their specific situation. 

SAMPLE SUBLEASE AGREEMENT:

This sublease agreement is made for the sublease of [INSERT TYPE OF RENTAL DWELLING] between the original tenant, [INSERT NAME OF ORIGINAL TENANT], and the subtenant, [INSERT NAME OF SUBTENANT], made on [INSERT DATE]. The [INSERT TYPE OF RENTAL DWELLING] is located at [INSERT FULL STREET ADDRESS]. The parties agree as follows:

The sublease premises is to be used only for residential purposes.

The subtenant will take possession effective [INSERT DATE] at [INSERT TIME] and will vacate the premises no later than [INSERT DATE] at [INSERT TIME].

The subtenant will pay [THE LANDLORD OR THE ORIGINAL TENANT] $ XXXX per [WEEK / MONTH] to be received on the [INSERT NUMBER] day of each [WEEK / MONTH].

If rent is not received by the [INSERT NUMBER] day of each [WEEK / MONTH], a penalty of $XXX will be charged as a late fee and added to the amount of rent due. Rent is to be paid by [MONEY / CHEQUE / ONLINE / ETC] and is payable to [INSERT FULL NAME].

A security deposit of $XXX is to be paid by the Subtenant to the [ORIGINAL TENANT / LANDLORD]. At the end of the sublease term, the landlord will examine the condition of the premises. Any damage done to the premise, beyond normal wear and tear, and caused by the subtenant will be deducted from the security deposit. (If there are any additional fees include that information here).

SEE ALSO: Tips for Advertising a Student Sublet