Pros and Cons of assuming a lease (landlords, income)

[jetsfan2012]

During my search over the weekend I noticed quite a few postings on craigslist of people looking for someone to assume their current lease. When inquiring I received feedback ranging with reasons from a loss of income has prompted a move and their current landlord (property manager or apt community) is aware to a new job offer is taking them out of state and they don't want to pay the lease break penalty.

If anyone has assumed a lease, what has been your experience, and any tips you would potentially share?

[momtothree]

My sister took over a lease and saved money as the person she took over let her "keep" the security deposit. She only had to pay an app fee and first month's rent. She finished the lease and renewed with no hassle.

I would suggest if you do take over a lease, that you do a walkthrough WITH the landlord, no exceptions, and get it in writing that you will not be charged for anything they see wrong etc before you move in. Note every stain, ding, hole, damage etc. Landlords will nitpick when you leave so you need to nitpick before you move in. Otherwise I don't see an issue as long as the landlord knows and you do an application with them.

[jetsfan2012]

Originally Posted by momtothree

My sister took over a lease and saved money as the person she took over let her "keep" the security deposit. She only had to pay an app fee and first month's rent. She finished the lease and renewed with no hassle.

I would suggest if you do take over a lease, that you do a walkthrough WITH the landlord, no exceptions, and get it in writing that you will not be charged for anything they see wrong etc before you move in. Note every stain, ding, hole, damage etc. Landlords will nitpick when you leave so you need to nitpick before you move in. Otherwise I don't see an issue as long as the landlord knows and you do an application with them.

Thanks for the tips!