If you wish to terminate your tenancy early, keep in mind that you remain responsible for the full length of the originally agreed term, or until someone is found to replace you. As per the agreement we have with the landlord, and as per our policy, any replacement is to be screened and signed off by Rent a Place.
Sublet/Lease Takeover Program
Rent a Place can activate a listing for your unit/room and advertise it through its network to find a replacement. Note that there are administrative fees of $190 (+HST) per lease transfer/sublet, due only at the end of the process, and only if a replacement is found. These fees are to cover the cost of advertising the room, screening and interviewing the applicant, and inspecting the room before the arrival of the replacement. If you find a replacement through your own efforts, you are still required to direct the applicant to Rent a Place to complete the screening process. You are not allowed to sublet your room without our prior consent and without having the sublet co-sign the existing lease.
By using our services, you agree to be bound by the following responsibilities: you will vacuum/sweep, clean and mop your room, and report any damage to the management prior to the new tenant moving-in. If you are subletting your room, you will provide access to the new tenant (key exchange or code), you will oversee the check-in tour to show around amenities (laundry room, kitchen, parking, etc.), share relevant house rules (recycling, garbage disposal, cleaning) and provide access to services included in the rent, such as the Internet. Since your sublet is protected by our 48-hour check-in guarantee, failing to meet one or multiple of the responsibilities aforementioned could result in a cancellation, in which case the deposit would be refunded to the applicant and you would remain responsible for the rent until someone is found again. Note that the $190 (+HST) administrative fee would not be refundable under these circumstances.
In addition to our marketing effort, Rent a Place can can also share the marketing material (photos, virtual tour) with you if you intend to advertise in parallel. As a side note, due to seasonality and its effect on demand and pricing, it might be advisable for you to advertise your room for less than the amount you are currently renting it for. For instance, the price point in January is traditionally 10% to 20% below September's. This will make your offer considerably more attractive and reduces your risk of not finding anyone. If you choose this alternative, you would be liable for the balance between your current rent and the amount for which the room is newly rented.