If your lease allows it, subletting may be an option for you.
But do secure your landlord’s permission first.
When subletting, there are three key things to bear in mind:
- How much will you charge for the space
Portal trawling could help you decide on an indicative price, but do seek the advice of a property professional first. They will have access to comparable data and good local knowledge of ‘grey space’ - What are you including in the rental charge
From access rights and broadband usage, to how the utility bills will be paid; consider whether you will share the cost (how do you define ‘sharing’), or whether it will be included in the rental fee - Is your subletting contractual agreement in place
Before you even think about giving your new tenant a key to the space, ensure you have a subletting contract in place. Seek the advice of a property professional before entering into any agreement
Issues to consider include:
- How do you find the right tenant – it’s not just about finding them, it’s also about checking their financial credentials and taking up and assessing their references
- Manage the whole process whilst continuing to do your day job
We have a team of professionals, with a wealth of experience, who can help you every step of the way. This will allow you to do what you do best – focus on financial and corporate goals.
If sub-letting is not the right choice for you, take a look at your other options.
