If you need to vacate prior to your lease end date, Midland Rental offers two options: Subletting or an early termination buy-out. Please make note that, you are only allowed to exercise ONE of these two options. Please read over the information for both options very carefully before committing to either one.
We hope that you understand that these options have been provided for your convenience. Please remember that your lease is a legally binding contract and Midland Rental is in no way required to provide these options. Also, please keep in mind that we must strictly adhere to the guidelines in order to ensure that all situations are treated fairly and equally. There are absolutely NO exceptions to the guidelines. Please our office if you have any questions regarding our guidelines.SUBLET GUIDELINES
The following items apply to all sublets:
- LESSEE must submit, in writing, a request to sublet their rental unit. This request must include all names on the lease, address, date of request, the date of move-out and any concessions or discounts that may be offered and the signature(s) of all tenants on the lease. e.g: We, John and Linda Smith, request approval to sublet our townhouse. We will be moving out on April 3, 2015 and will be willing to offer a discount of $100 off each month's rent for the remainder of our lease term.
- LESSEE will advertise the property for rent and will be responsible for all advertising costs.
- LESSEE is responsible for all terms of the lease during the search for a SUBLESSEE.
- When an applicant meets Midland's application standards and is accepted by all parties, the SUBLESSEE will sign on to the LESSEE'S original lease. LESSEE is still responsible for all terms of the lease along with the new SUBLESSEE.
- There is a one-time, non-refundable sublet processing fee of $100.00. This fee is required at the same time the sublet paperwork is turned into the rental office.
LEASE BUY-OUT GUIDELINES
- The rental is accepted as is. Midland will not clean appliances, flooring, steam clean carpets or paint the rental unit.
- The security deposit is due upon execution of the sublet. The security deposit is equal to 1/2 month's rent. A security deposit of 1 month's rent may be due per our application approval guidelines. The lessee's security deposit will be returned within 21 days of move-out.
- Any discounts that the lessee offers to a sub lessee are due to be paid in full to Midland Rental prior to the sub lessee moving in. This payment must be made by money order or cashiers check only.
- Per Madison's Zoning Ordinance, no more than two unrelated adults will be accepted to live in any of our rentals.
- We allow up to one dog and 2 cats in our duplexes and up to two cats in some of the town homes (please verify if your unit allows cats before hand). The pet deposit fee is $200.00. This fee is refundable provided that there has been no damage to the rental unit. Absolutely no pets are allowed at Raymond Twonhomes.
Tenant may terminate the Lease, prior to the expiration of the Lease Term, provided Tenant is not in default hereunder at the time of giving notice and further provided:
- Lessor receives from tenant at least a thirty(30) day written prior notice of termination, with such termination to be effective at the end of a leased month. e.g: I John Smith request approval to terminate my lease for my townhome located at 1234 Midland Rental Drive as of April 30, 20XX.
may only exercise this right of termination by giving notice during the months
of January through September. Termination is not valid within the months
of October, November or December.
- Tenant pays Lessor all monies due through the date of termination, plus the equivalent of two month's rent, as consideration for early termination. Payment must be a certified check or money order. Personal checks will only be accepted if submitted no later than 14 days prior to the termination date.
- The early termination of lease shall not release Tenant of any responsibilities and obligations regarding damage to the leased premises nor be construed as a waiver or release of Tenant from payment of rent and other charges due for rental periods prior to the date of the proposed termination. No notice of termination shall be effective unless and until the consent and signatures of all Tenants on the lease are obtained and submitted to Leaser.