Subleasing - The University Group

Below is a quick summary of the most important subleasing information:

Find a sublessee: Current residents are responsible for finding a sublessee. University Group Residents may post a sublease ad on our website. All potential sublessees must fill out an online application and pass a credit check or provide a valid Passport and Visa if they don’t have a social security number. You may not start showing the apartment for subleasing until your lease begins.
Determine sublease details: The sublessor(s) and sublessee(s) must agree on the sublease start and end dates (which cannot exceed the lease end date), rent payment amount, and security deposit amount.
Sign a sublease agreement: Original Lessees (referred to as sublessors) can sublease their apartment by signing a sublease agreement through The University Group. Please contact our office by emailing leasing@ugroupcu.com to sign an electronic sublease agreement.
Complete sublease agreement: All current residents need to sign the sublease agreement before the sublessee(s) can sign it. Any outstanding balance must be paid in full before signing.
Pay subletting fees: A nonrefundable fee of $50 is required for each sublease.
Security deposit: The sublessor(s) and sublessee(s) should agree on a security deposit amount. The sublessee(s) will pay the deposit directly to the sublessor(s).
Rent payment responsibility: If the sublease rent amount is less than the original lease amount, the sublessor(s) must cover the difference and pay it to The University Group. The original lessee(s) is ultimately responsible to The University Group for the lease obligations in the event that the sublessee(s) does not fulfill their sublease obligations.
Exchange of keys: The sublessor(s) and sublessee(s) will handle the exchange of apartment keys themselves. The University Group does not hold or take possession of the keys.
Apartment inspection: It is recommended that the sublessor and sublessee inspect the apartment together near the sublease start date, using a move-in checklist. Both parties should sign, date, and keep copies for their records.
Closing statement and security deposit: If the sublease end date matches the original lease end date, the sublessee(s) will receive a closing statement and invoices for deductions from the original security deposit after 30 days. If the sublease end date is earlier than the original lease end date, the sublessor(s) must inspect the apartment for damages and return the sublessee(s) security deposit within 30 days of the sublease agreement’s end date.

Please note that these condensed bullet points provide a general overview, and it’s important to refer to the original agreement and consult with The University Group for specific details and requirements.