One of the most important rights Chicago renters have under the landlord and tenant ordinance is the right to sublet their apartment. But what does subleasing entail and what should you know before exercising this option? The sublet option simply allows a renter to find someone else to take over his or her lease in the event that they can no longer fulfill the lease terms. It is guaranteed by law and applies to every rental property in Chicago. Some of the important facts renters should know before exercising their sublet option are:
1) Subletting your apartments does not necessarily release you from your lease obligations. Unless a landlord releases you in writing you are still responsible for the remainder of the rental payments and terms.
2) The person subletting your apartment must still undergo the application process. If he or she does not meet the landlord's income, credit and or rental requirements, the landlord has the right to reject the sublettor.
3) If you simply move out in the middle of your lease your landlord has the obligation to find another renter but you are taking a risk. If the landlord is unable to re-rent your unit, you are still responsible for the remaining rental payments and possibly any advertising costs incurred by the landlord. This option may also impact your rental history thus, making it harder to get approved for future apartments.
For more information on subletting your apartment or to find a sublet, contact the experts.
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