Read further to learn more about the rules & regulations surrounding subletting in Alaska, whether for residential or commercial tenancy.
What is a Sublease Agreement?
A sublease agreement is used when a tenant who holds a lease with a landlord wants to rent the property to a third party. In the state of Alaska, some residents may choose to end a lease early without legally breaking the lease – they do this by subleasing their units. In a subleasing situation, the resident would choose to find tenants to remain in the property and continue paying out the monthly, quarterly, or weekly rental rates in place of the original tenant.
Some property managers may choose not to allow this – others may find that it is beneficial to require any subleasers to fill out an application, similar to the rental application that the initial tenant provided, as well as provide additional security deposits and rental application fees. In most cases, this is up to the property manager or landlord to decide how subleasing will be carried out. Furthermore, some landlords may choose to include a section in regards to the ability and any subleasing restrictions in their initial lease agreement.
Effectively, this document typically serves as a secondary lease – it must provide the same sort of legal information to the new tenants that the initial tenant or tenants received. Any disclosures legally required by the state of Alaska should be included on the document so that the subletter receives the same information the original tenant was legally required to receive.
Furthermore, the document should provide any specific rules or restrictions that the subletter should be informed of, such as specific property access information, information on deposits and specific property rules such as animal restrictions, if the property is no-smoking, and any other information that could potentially cause the lease to be violated.
It is important to note that the document does not serve as a new lease – the original lease is still held in place and ends on the specified date in the original lease contract. The subleasing agreement, typically, simply allows new individuals to take over the previous lease and allow them to contract a stay for the remainder of the leasing period. It removes the liability of the property from the initial lease owners and places the liability on the subletters. Unless agreed upon between the landlord and the subletter during the subletting period, the lease timeframe, as well as any recurring fees covered under the lease, are to stay the same as what was originally agreed upon in the lease.
And, of course, should the subletter choose to renew the lease, they may be required to pay an additional security deposit, or fill out an application form to be approved to continue leasing the unit, depending on the expectations set out by the landlord when the unit was initially sublet to the new tenants. Some landlords or property managers may choose to deny the subletting tenants permanency, but this depends on the structure of the subletting document, which is broken down into sections to assist in the development of the document below.
Writing an Alaska Sublease Agreement
Due to the complex nature of a sublease agreement and the additional responsibility that a sublessor must assume, it is critical to use a sublease agreement form that is detailed and state-specific. This guide contains step-by-step instructions for creating a basic sublease agreement template that is legally compliant in the state of Alaska.
Names of Involved Parties
This section, which is similar to the first section of a typical leasing agreement, indicates who the involved parties are. In most cases, this is where the landlord or property manager provides their information, such as the landlord name or property management company name. Moreover, some may choose to provide contact information in this section as a basic method of contact for the subletter. After the property management information is provided, the information for the individuals who will be taking over the lease is provided. Typically, this section only includes the names of the individuals who will be taking over the lease – in some cases, the property manager may decide to include information on the individuals whose name was initially included on the lease, however, this is optional and stands mainly for documentation purposes. Information in regards to the new tenants move-in date may also be included in this section if the landlord feels it beneficial.
This section is usually relatively short. It is a brief description of the property – typically this means the type of unit that is being rented, the address, and potentially the information in regards to who owns the property, such as the apartment or building name. This section will also include information on the unit number, if applicable.
Security Deposit Amount
Here, information on any security deposits is included. In most cases, a prorated security deposit is required by the landlord. This section allows the landlord to detail the amount they are expecting for the security deposit. Some landlords also choose to include information in regards to the date it was paid as well as the method it was paid in. Many landlords find this important to document as should the deposit not be returned or should the tenant claim that the amount was different, there is a documented time and amount of payment. Furthermore, some landlords choose to include information on what the security deposit can be used for upon moveout in this section.
Details in regards to the rental payment arrangement are detailed here. Typically, this includes information in regards to the amount of rent to be paid, when the rent should be paid, and what methods the subletter can use to pay rent. In some cases, the landlord may choose to include information in regards to any penalties or fines accrued for failing to pay rent in a timely manner.
Other Rules and Laws
In this section, the landlord may include any disclosures as are legally required by the state of Alaska, such as the lead paint disclosure when applicable. They may also include any information included in the initial lease that they feel is important for the new tenants to have, such as pet policies, bed bug addendums, and smoking policies.
Dates and Signatures
The last section of the document includes the signatures of all parties who are involved in the new subletting of the lease – typically, the individuals who are taking over the lease, and the property manager, and the dates that the documents were signed on.