However, investing in a single rental property depends heavily on the quality of the single tenant. In the event of failure of the occupier`s activity or financial difficulties, the main source of income for the investor is considerably limited, if not eliminated. A completely empty property has a negative effect on a commercial investment. In addition to the vacancy losses itself, maintenance, improvements, insurance and other related costs begin to reduce overall return until a new tenant is found. If your temporary rent has a break clause, you must get all tenants to accept the break clause to terminate the lease, unless your agreement says otherwise. If your joint tenancy agreement is of a fixed term (for example. B 12 months), you normally need to get the agreement of your landlord and other tenants to terminate the termination. If you end your lease, it will end for everyone. At the end of the day, it`s up to you as the owner, but we don`t recommend allowing sub-leasing.
It can complicate matters, because the tenants do not have to sign the lease and go through the original tenant – if someone misses a rent, it affects all parties involved. Sometimes a subletting near you may be necessary, z.B. if you rent to university students who are often in and out, but in this case you could make an endorsement to the lease to get the new tenant signed. If you have a problem with another customer, it is best to try to solve any problems between you. However, if this is not possible, you can discuss the matter with your landlord. Since you all have individual leases, your landlord may decide to take action against the tenant in question. If they did, it would not affect their rent. Landlords must return full or partial deposits to their tenants, with a cheque and a letter explaining why the total deposit is not refunded. See what information should be included and what deductions are allowed.
A tenant may sublet part of his dwelling or accommodate a tenant if his tenancy agreement allows and/or if his landlord grants him permission. The only influence it will have on you is that if they go, your landlord will probably have a new tenant to replace them. It is unlikely that you will have control over who this person is unless your landlord asks for your contributions. Unexpected things happen during a lease that may lead one or more clients to want to move.