Many may find themselves traveling for weeks to months at a time for work. If this is you, you may not want to pay two monthly rents if you are not using each. Here are some options for renters and homeowners so you can ease the costs of work travels.
There are two viable options for those that rent. You can either sublease your place to earn back the rent money or break the lease. Here is what to consider.
Finding a subletter is a great way to make money as you travel. First, you will have to look into your state laws and rental agreement to ensure this is allowed. Then, if you are permitted to sublease, you must find a reliable subletter. It is always best to go with someone you know and can vouch for your landlord. If you do not know anyone personally, ask your landlord if any individuals are waiting to be moved in—post online ads on your social media, Craigslist, Facebook Marketplace, or SpareRoom. Use high-quality photos and a detailed description to get people interested.
-Break the Lease
If you cannot find a subletter or do not want to pay for the rental, you can cancel your lease by breaking it. This option is expensive, but it is less labor-intensive. First, check with your employer to see if they will cover your lease. If you are moving for work, you may be able to negotiate your rental lease as part of the relocation package. If they do not cover this, read your lease agreement for any reasons to break your lease and minimize the financial consequences. After, explain the situation to your landlord. If you have been a good tenant and can assist in finding a new tenant, you may be able to reach an agreement to make this as affordable as possible.
As a homeowner who has work travels for long periods of the year, you have a couple of options. You can either rent out your home or sell it. Consider how attached you are to your home when deciding what to do. Here are some other factors.
If you want to return home at the end of your trip, renting out your home is the best choice. There are short-term rental websites like Airbnb and VRBO. Take quality photos and provide descriptions of the property. Be specific about the dates you will be away. After you find someone to rent to, research their background to ensure they are reliable. Run a credit check to ensure they are employed. Ask for references. Run a background check with sites like StarPoint. After doing this, meet with your prospective renter and use that interview to round them out and determine if they are someone you can trust. Consult a legal professional to write rental agreements to ensure everything is in order.
If you have no interest in returning home, it may be worth it to sell. To avoid unnecessary headaches, consult a real estate agent to sell your home before you leave. You may need a plan for your things if you do not get your departure date and sold date aligned perfectly. If you can’t sell your home by the time you leave, consider delaying your departure date. If you cannot wait, calculate how many months you can afford to pay for two homes. Is there anyone you trust in-town to work closely with your agent? If you are selling your home premature to your departure date, consider where you will live. Do you know anyone who will house you? Are there any short-term rentals available in the area?
Whether your sold-by date came too early, or you need to store your things while renting, self storage could be a great solution! Often a new home requires a fresh mindset, and you don’t want to drag everything you have into your new space that may not be big enough. Use self storage facilities to keep your things year-round to accommodate your work travels. Right Fit Storage has top-quality amenities like FREE move-in trucks to make move-in day convenient and FREE heating and cooling to offset the harmful effects of temperature extremes year-round. Find a location near you, or call us to see how we can help! 1-833-891-9274
#travel #traveling #worktravel #travelforwork #rentals #sellyourhome #airbnb #vrbo #sublet #rightfitstorage #rightfit #RFS #selfstorage #selfstoragefacility #storage #storageunit