Sublets
Should I take a security deposit from my subtenant?
Updated By the Housing Rocket moderators
Short answer
Yes, in most cases. A deposit protects you against damage and unpaid rent that your landlord will hold you responsible for. Many people ask for one month's rent, or less for very short sublets. Put the amount, what it covers and when it will be returned in the sublease.
Your own deposit with the landlord is on the line if the subtenant damages anything, so it makes sense for the subtenant to put up their own. Keep it separate from their rent payments so it is clear what each payment is for.
Getting the deposit right:
- Collect it once the sublease is signed, not before the subtenant has seen the place
- Do a photo walkthrough together on move-in day and share the photos
- Say in the sublease what can be deducted: damage beyond normal wear, unpaid rent or utilities, missing keys, extra cleaning
- Agree a return date, and give an itemized list of any deductions
Some state and local deposit rules can apply to sublets as well as regular leases, such as limits on the amount, how the deposit is held and how fast it must be returned. Check your state's rules if you are collecting a large deposit or subletting for many months.
If you are the subtenant, ask for the return date in writing and do your own move-out photos before handing back the keys.
Want the whole picture? Read How to Find a Sublet or Roommate on Facebook Safely.