Renting out my rented townhouse while in college.

**consciouscowboy** · 11-27-2009, 09:16 PM

Hello! I am new to RealEstateForum.com. I had an idea and wanted to run it by you guys first. I am looking at a 3 bedroom townhouse to rent starting in january for 800 dollars a month. If I have the money to pay the rent each month, could I rent this property and then rent out two of the three bedrooms for 350 a month, allowing me to only pay 100 a month for rent? Thanks in advance for your help.

**markbrian** · 11-28-2009, 06:56 AM

Depends on the terms in your rental agreement. But how do you think your roommates will feel when they find out what you are doing?

**consciouscowboy** · 11-28-2009, 10:49 AM

It is actually a good deal though. As the going rate per month for an apartment in the area is 400-600. Also I wouldn't mind if they only paid by the month without signing a lease.

**markbrian** · 11-28-2009, 02:18 PM

If your name is the only name on the lease, you realize you are going to be responsible for everything?

And you really need to look at the specific terms of the rental agreement you are signing.

**Jorge** · 12-03-2009, 06:59 AM

You also want to make sure the landlord will be ok with you subleasing the property.

Especially in a college town where landlords are watching out for their tenants throwing a party (or many) and destroying the house.

I've lived with good roomates and trust me you don't want to be the only one on the lease....

There's nothing wrong with adding them to the lease or asking the landlord to allow you to sublease....

**Hollywood Landlord** · 12-26-2009, 11:15 AM

There will be a specific clause in your rental agreement that says whether you are allowed to sublet or not. And if you are, how you have to go about it.

If you are not allowed and/or don't follow the correct procedures, you can be evicted.

**BoiseRealEstateSoup** · 12-27-2009, 12:16 PM

conciouscowboy,

What you are talking about is a sublease. In order for any of us to actually answer your question correctly, we would have to see a copy of your lease agreement.

As a property manager, I do not allow tenants to sublease or transfer the lease of any portion of the property in question. I do however consider it when it is presented to me formally.

For instance if I rent a property out to somebody and they fall ill and lose income and have a difficult time paying the rent, I may suggest, if they don't first, getting an additional roommate.

The way to my lease is structured is that the original leasee is still responsible regardless of who sublease is it. So if you leave for the summer and lease the house out to your buddies, and they cause damages to the house you are still responsible for it ultimately.

Just be cautious because leases are legally binding contracts and more than likely your landlord or property manager will be amenable to working with you as long as it doesn't put extra burden on the property.

There many other considerations I could go over but based on your question the best answer would be to tell you to contact the lessor.