If you are looking to rent in San Marcos, some common advertisements include subleases or lease transfers. The ever changing student population of San Marcos creates an unsteady environment for leases. Graduation rates, changes in financial aid, and career changes all affect a student’s ability to fulfill a lease. As an alternative to breaking a lease, some tenants turn to sublets or lease transfers to get out of their current lease situation. The terms of subleasing can be difficult to understand, so we have a few FAQs to make it a little more clear.
What is a sublease?
According to The Language of Real Estate, a sublease is defined as “A lease given by a lessee for a portion of the leasehold interest, while the lessee retains some reversionary interest.” In some occasions, the lessee retains no interest in the original lease. Subleases are common in the San Marcos market due to the average length of the lease term. Most of the lease terms in San Marcos are 12 months, however this is not always conducive to students due to anticipated graduation dates, potential job offers, and the unpredictable nature of financial aid. Rather than break the lease, most people try to sublease their apartment as an alternative.
What is the difference between a sublease and a lease takeover?
Essentially, a sublease and a lease takeover are the same concept. In a lease takeover, the lessee becomes the main responsible party for the lease. This is also commonly found in subleases. These terms are often used interchangeably in conversation and advertisements.
How do I sublet my apartment?
Great question! Often times, lease holders will post their listings in newspapers, newsletters, and online forums. Sometimes they’ll even print flyers and post them in public places. However, Apartment Experts can do the work for you! List your apartment with us, and we will work to find someone to sublease your apartment. Your apartment will be added to our database, where it will be available to our agents and advertised to dozens of customers. We will look for the right potential tenant for your current lease! For a nominal fee, we will help your lease transfer experience go a little easier. The fee is completely refundable to you, so our sublease service is completely risk free for you!
Subleasing your apartment can be a tricky experience. However, it doesn’t have to be difficult! Our Apartment Locators specialize in finding homes for every budget, location preference, and lease term. We can even help with lease takeovers! Give us a call at 512-640-0095 to schedule your appointment with one of our licensed Apartment Locators. We are here to help by phone 7 days a week