What is rentvesting & what's so good about it?
For young Australians, it can seem like an impossible feat to get a foot on the property ladder these days. With housing prices skyrocketing, many Gen Ys feel locked out of the market when it...
A sublease or sublet refers to an arrangement where a tenant rents out all or part of a property they are renting from a landlord.
A sublease or sublet refers to an arrangement where a tenant rents out all or part of a property they are renting from a landlord. Essentially, the original tenant becomes a landlord to the new tenant, while still being responsible to the original landlord for the property.
Subletting a property firstly requires the consent of the landlord. Landlords must also be notified of any changes to the arrangement. If a tenant does not tell their landlord, they are breaching the terms of the tenancy agreement.
Even when subletting, the original tenant maintains their status as the landlord's tenant and retains responsibility for the tenancy. This includes being accountable for the actions and obligations of the sub-tenant. The original tenant retains obligations such as:
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