Subletting or subleasing are terms that we throw around when talking about moving, or relocating, but what actually is a sublease?
I also struggled with figuring out exactly what this term revolves around, and truthfully I’ve realized that subleasing is pure gold. Subleasing allows an individual to leave the space they are paying for, and instead of still having to pay it, it means finding someone to pay and live there instead. Now, the problem arises when you actually have to find a real life person to take over your lease, which can be difficult.
The definition of a sublet, is a contract under which a tenant rents out their apartment to another individual while their name is still on the lease. The individual who originally lived there is referred to as the “sublessor” and the new tenant is the “sublessee.” The most popular reason that tenants choose to find a sublessor is the person needs to move before their lease up, so rather than paying for it, finding someone else to pay for it. Another reason might be someone needs to leave town for an extended amount of time, but they aren’t actually moving out.
The whole process of subletting allows tenants to avoid breaking their leases (which will cost them) while also saving money if they do intent to return back.