Read further to learn more about the rules & regulations surrounding subletting in Arkansas, whether for residential or commercial tenancy.
What is a Sublease Agreement?
In the state of Arkansas, some tenants may choose to terminate their lease prior to the last day of their lease by means of subleasing their rental unit. In subleasing, the current tenant and the new tenant come to an agreement in which the new tenant will take over the lease for the current tenant, thereby taking on responsibilities such as rent and any other legal obligations as required by the leasing document.
While the ability to sublease, typically speaking, is up to the property manager or landlord, should the landlord choose to allow this, they do have the option to require that the new tenant fill out an application to reside at the new residence. Furthermore, they may be required to provide additional security deposits and application fees. Typically, it is up to the landlord to decide the intricacies of a subleasing agreement, and the landlord may require a new lease to be filled out, at need.
In essence, this document typically serves as a secondary leasing document. It should provide any sort of legal disclosures required by state law, which the new tenant should initial to indicate that they have received this information and understand the expectations set out by this document. This document should also provide any legal restrictions for the area in which the tenant will reside that is relevant to the property at the time of move-in.
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.
Moreover, the document should review any property-specific expectations set by the landlord, such as pet restrictions, property usage restrictions, and access information, as well as information on deposits and fees due at move-in. Other information provided should include restrictions on things such as smoking, and any primary rules that, if broken, could lead to a violation of the original leasing document itself.
Ultimately, one of the most important things to note about this document is that it is not to serve as a new lease. The subletting agreement, in most cases, allows the new tenant to take over the lease from the previous tenant and live on the property for the remainder of the previous tenant’s contracted time. It will ultimately remove the liability for the property from the previous tenant and place the liability on the new tenant who will be residing on the property. Unless arranged previously, the timeframe of the lease, as well as any recurring fees such as rent and utilities are to remain in place in conjunction with the original leasing agreement signed by the property manager or landlord and the original tenant.
Should the subletter choose to renew the lease at the end of the original leasing period, it is important to note that they may be required to pay an additional security deposit, fill out an application to be approved to live in the unit or follow other guidelines as set in place by the landlord. Some landlords may choose to deny an individual who is subletting permanency on the property, however, the regulations on this often vary property to property and this is typically based on landlord preference, and also on the structure of the subletting document, outlined below.
Writing an Arkansas 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 Arkansas.
Names of Involved Parties
In most cases, this section is very similar to the first section of the original leasing document. It will indicate the involved parties in the agreement. In most cases, this is the section in which the property manager is able to provide their contact information – such as the property manager name, or the name of the property management company who will be overseeing the subletting arrangement. Some landlords may also choose to provide information in this section for contact information, such as a phone number and emergency contact information for the individual who will be taking over the lease. However, in most cases, this section includes information involving the property management group, landlord, or property manager, as well as the name of the individual who will be subletting the property. In some cases, for documentation purposes, you may choose to include the name of the original lease-holder, however, this is an optional section that does not have to be included unless beneficial in the documentation process.
This section is relatively brief, in most cases, and provides a brief description of the property itself. Typically, this entails the type of unit that is being rented – such as an apartment, room, or home – as well as the address. Some individuals choose to include information on the owner of the property in this section, such as the apartment or building name. Here, information applicable to the type of unit, such as a unit number, should also be included.
Security Deposit Amount
In this section, any additional security deposits due upon move-in should be detailed. Typically, a prorated security deposit will be required by the landlord for the remainder of the lease. This section provides the landlord with the ability to detail the amount required for a security deposit from the new tenant. Some landlords choose to use this portion of the document for record-keeping purposes as well, detailing the amount of the security deposit paid and the date it was received. This can, in some cases, be beneficial should any questions or concerns in regards to the security deposit paid, or any claims taken from the security deposit when it is returned.
This section will provide the subletter with information in regards to their monthly, bi-monthly, or previously arranged rent payments to the landlord. It should provide information on the amount owed each month for rent payments, as well as when and how the rent should be paid. This section should also detail any information in regards to penalties that would occur for late rent payments and any other types of payments that are due on a monthly basis, such as utilities or renters insurance.
Other Rules and Laws
Here, the landlord may choose to include information in regards to any specific, property-wide policies, as well as any legal disclaimers as required by the state of Arkansas. The landlord may also choose to include information on addendums that are vital to the lease, such as pet policies, bed bug addendums, and smoking policies that are relevant to the subletter and their situation. Essentially, this section should be utilized for any information vital to the subletter successfully carrying out the remainder of the lease.
Dates and Signatures
The last section of the document contains the signatures of all involved parties, as well as the date the new subletting lease will begin on, and the date that the document was signed on.