When
applying for rental properties, tenants have two options for the lease
agreement: Co-Tenancy or Sub-Tenancy.
Tenants who wish to sub-lease must have written
permission from the landlord.
As a landlord, you have the right to issue a tenant who is sub-leasing without your consent, 14 days notice to vacate.
Landlords must present a valid reason for refusing
to allow a tenant to sub-lease and a tenant has the right to take the matter up
with the relevant authority, if they wish to pursue the matter.
The Advantages of Co-Tenancy for Landlords:
•The tenant shares the responsibility of the
management with one or more people
•It is easy to transfer the tenancy from one person
to the next
•If there are enough co-tenants to satisfy the
rent, there is more chance of securing a property’s lease
The Sub-Tenancy disadvantages for Head Tenants
•A head tenant takes on the legal responsibilities
of the landlord and will have to personally deal with any disputes.
•A head tenant has to vet all potential tenants and
will, therefore, have to deal with the consequences of a poor assessment
•If a sub-tenant leaves without paying, the head
tenant is responsible to recover the outstanding monies
Find out why RealRenta is disrupting the Real
Estate industry with our Self Management platform.
RealRenta is for Smart Investors, who realise that
they are no longer bound to traditional property management and the associated
high fees.
Not yet a
subscriber? Join now and get 50% off the normal subscription fees:
https://mailchi.mp/realrenta/50-deal-2020
Jason Gwerder
Tuesday, 19 May 2020
