As an MBA student, finding affordable housing is often a top priority (whether you’re single or with a family!). One option to consider is subleasing, where you take over someone else’s lease for a short period of time. While subleasing can be a great way to save money, there are also potential drawbacks to consider. Let’s check the pros and cons of subleasing vs. renting an apartment as an MBA student and how NewSublease.com can mitigate potential cons.
- Lower Costs: Subleasing can be a more affordable option than renting because you may be able to take over someone else’s lease at a lower rate. According to a study by AirDNA, a data and analytics company specializing in the short-term rental market, the average daily rate for a short-term rental on Airbnb is around 30-40% higher than a long-term rental in the same area.
- Shorter Lease Terms: Subleasing typically comes with shorter lease terms, which can be ideal for MBA students who only need housing for a few months or a year.
- Furnished Units: Many subleases come fully furnished, which can save you the time and expense of furnishing an apartment yourself.
- Limited Options: Subleasing can be more difficult to find than traditional rentals, especially if you’re looking for a specific location or set of amenities. >>> SubLease.com helps this issue by connecting all school networks and external markets.
- No Control Over Lease Terms: When you sublease, you’re essentially taking over someone else’s lease, which means you don’t have control over lease terms or the ability to negotiate. >>> SubLease.com allows flexible terms and you can discuss with your host.
- Potential Legal Issues: If the original leaseholder defaults on their lease, you could be held liable for unpaid rent or other issues that arise. >>> This may be different by state. Please check our legal tips and protection services.
- More Options: Traditional rentals often offer a wider range of options in terms of location, amenities, and lease terms.
- Greater Control: When you rent an apartment, you have more control over the lease terms and can negotiate with the landlord.
- Legal Protections: Renting from a reputable landlord can offer legal protections and recourse if something goes wrong.
- Higher Costs: Renting can be more expensive than subleasing, especially if you’re looking for a short-term lease.
- Longer Lease Terms: Most traditional rentals come with longer lease terms, which can be a challenge for MBA students who need housing for a shorter period of time.
- Unfurnished Units: Renting an apartment typically means you’ll need to furnish it yourself, which can be an added expense.
When it comes to subleasing vs. renting as an MBA student, there’s no one-size-fits-all answer. It really depends on your individual needs and priorities. If you’re looking for a shorter lease term and lower costs, subleasing may be the way to go. Ultimately, it’s important to do your research and carefully consider all your options before making a decision, and use NewSublease.com as a resource.