Approval from Sleepwell is required before apartments can be sublet for any period of time. Responsibility for advertising the apartment and finding a suitable replacement falls to the original tenant(s). The new tenant(s) will be required to submit an application to Sleepwell, but the original tenant(s) remain(s) responsible for the apartment and payment of rent. Therefore, the new tenant(s) will pay rent to the original tenant(s), and the original tenant(s) will continue to pay Sleepwell. Please ensure that enough post-dated cheques are submitted to cover all rent payments during the absence.
If you wish to sublet for the remainder of your lease, you have two options: (1) sublet or (2) reassignment. With reassignment, the original tenant(s) must still find suitable replacement tenant(s). However, in this case, the new tenant(s) must submit an application, sign a new lease, and submit deposit for new last month's rent. Once this process is complete and the new tenant(s) approved, the original tenant(s) lease will become void and their last month's rent deposit will be returned. If any of the above conditions are not met, the original tenant(s) remain(s) legally bound to their lease and their deposit may not be returned. Please note a $75 fee applies to all lease reassignments.