I've never sublet before and don't know what it entails. I've looked around for information on subletting on the forum but could not find the exact information I was looking for. So here goes:
My wife and I have found a place that we would like to sublet from the current tenants. The current tenants have lived there for the past 4 years.
They are happy to sublet the apartment to us for 2 years and are in the process of obtaining approval from the landlord, and are drawing up a sublet contract with the the real estate company. From what I have read, everything is proceeding as expected and appears to be above board.
The tenants originally paid a 3 month deposit with the real estate company, and as such, they are asking me to pay them a 3 month deposit.
- The deposit will be listed in the sub-let contract.
- I will pay it into their personal back account.
I have several questions that I am hoping that people who have sublet before can answer:
1. Is it normal to pay the deposit into the current tenants personal back account in the case of a sublet?? OR should the deposit ALWAYS go into one of those special "rental deposit" bank accounts?
2. When we move in, should we still expect fill in one of those detailed inventory forms even though this is a sublet? I assume that this list is also used for comparison when we move out??
3. When we move out of the apartment in 2 years time, who makes the decision as to how much of our deposit we get back? The tenant or the landlord? (I'm concerned at the potential of being royally screwed over at this point).
Any help/advice that anyone can offer me is greatly appreciated.
Charday