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Summer subletting remains steady, Ann Arbor realtors say

BY CLAIRE GOSCICKI
Daily Staff Reporter
Published May 5, 2010

From bus shelters to Angell Hall’s bulletin boards, advertisements for summer sublets have been posted campus-wide by University students looking to leave Ann Arbor for the spring and summer terms.

In the past, subletting has been a popular option for students who are locked into 12-month rental agreements and wish to leave for travel, internships or home. According to Ann Arbor realtors and realty agencies, the number of students offering subleasing options in the spring and summer terms has remained steady since last year at this time.

Sarah Poore, a leasing consultant from Varsity Management, said she expects more students to start looking for sublets in the months to come but has not yet seen any deviations from the norm.

Poore said about 80 percent of Varsity Management’s current tenants reported having subleased their house or apartment by the start of last month. She added that some tenants, however, choose not to notify their realtors.

Realtors and realty agencies, Poore said, can act as a liaison between potential renters and current tenants and that word-of-mouth advertising is an effective means to close sublet deals.

A realtor at Big House Rentals, Jane Belanger echoed Poore’s sentiments, saying that word-of-mouth advertising is the safest option for students looking for dependable subleasers.

“(Networking) is probably the most reliable in terms of the house or apartment not getting damaged,” she said.

Belanger said students generally have the opportunity to pay lower rental rates during the spring and summer than they do in the fall and winter. Like Poore, Belanger said nearly all her tenants who were interested in subletting have done so.

Rudy Acuna, a realtor at Old Town Realty, said Craigslist.com and the University’s off-campus housing website have traditionally been good venues for advertising available rooms.

For LSA freshman Joey González, an advertisement he posted on Craigslist for his room in Zaragon Place apartments on East University Avenue generated little interest. González said he then listed his room on Facebook Marketplace and ULoop.com, a website for college classified advertisements.

Currently paying $895 a month in rent that excludes the cost of utilities, González said he has lowered the cost of his sublease from a flat rate of $850 to $750 per month. He added that he has seen other Zaragon tenants subleasing their rooms on Craigslist for as low as $600 per month.

González, who wants to move home and work full-time this summer, said dealing with the competition from other students looking to sublet has been one of the biggest hurdles to securing a good deal on his own apartment.

“I have to deal with the competition of others and their prices while also not losing too much of my own money in the process,” he said.

Belanger suggested that students looking to accept less than half their monthly rent should reconsider given that the original tenant is responsible for covering the cost of repairs for any property damaged during the terms of the sublease.

LSA junior Nicole Lamond, who also hopes to move home this summer, cited competition as one of the main factors complicating her subletting efforts.

Lamond, who lives in a house on Thompson Street, said she advertised her room on Facebook and anticipates having to lower her asking price amidst the competitive subletting market. She also said she is prepared for the possibility of having to pay her share of the rent for the next few months if she can’t sublet her room.

If faced with the possibility that he will not be able to rent out his apartment room, González said he would take courses during the spring and summer terms and work a part-time job.

“I suppose that's the risk you take when you sign on the dotted line,” he said.