lease reassignment
PERMANENTLY LEAVINGAVANT?
You have the option of transferring your lease to another student. This is called a lease reassignment, also known as a lease takeover or a lease transfer. In the case of a reassignment, we allow you to end your lease earlier than your original lease end date to sign a new lease with the student you find.
HOWDOESITWORK?
You must find another student, enrolled in a post-secondary program, to reassign your lease to The new student is to complete an online application, at which point you can inform management of their contact information to connect with them. The new student will be paying your current rate The new student will complete the same steps in the leasing process that you did, including: making last month rent deposit, completed guarantor application, and purchasing tenant’s insurance.
N11&DEPOSITS
You will sign an N11 form (agreement to end your tenancy) dated for the last day of the month. and we will apply the deposit you paid to the last month you say with us. For example, if you plan to move out end of April and found a person to take your lease over starting May, in April you don’t have to pay your rent - we will apply your deposit.
FEES&KEYS
Residents who complete their lease re-assignment up to 24 hours before your scheduled move out date will incur a $250.00 lease reassignment fee. Residents who paid a key deposit will be refunded, once keys have been returned to management.
MOVING OUT
You are expected to coordinate with management to schedule your move-out inspection, and pay any fees associated with cleaning, should you fail to clean your apartment on your own, to our standards. Review our Move-Out Guide for cleaning tips.
subleasing your unit
TEMPORARILY LEAVINGAVANT?
If you are planning to return after some time to continue living in your apartment, then your best option is to sublease your apartment. This means you are still leasing the apartment under your name, but allowing a new student to occupy your unit
HOWDOESITWORK?
To sublease, you and your subtenant are to sign an agreement You can find an example of the agreement online, or reach out to management for our sublease agreement. Once you've sent management your signed agreement, along with a copy of your subtenant's ID and their contact information, you are responsible for handling keys, room inspections, and a building tour for your subtenant, scheduling move-in, etc. You must find another student, enrolled in a post-secondary program, to sublease your unit to
LEGALITIES
Legally, you cannot charge your subtenant more rent than you pay to Avant. The subtenant will pay rent to you, and you will pay your rent to Avant You are responsible for the unit during the time you are away, your subtenant will have no access to Resident Portal, and if any issues arise, they will deal directly with you. Your tenant insurance applies to you and your belongings - if your subtenant wishes to purchase their own insurance, they are welcome to.
FEES&KEYS
Residents who complete their sublease agreement up to 24 hours before your scheduled move out date will incur a $250.00 sublease fee Residents are responsible for cleaning their unit for their new subtenant, and for coordinating the subtenant’s key pick-up
ROOMMATES
If you have roommate(s), you are expected to find a student of the same gender to sublease your unit to, unless otherwise agreed by your roommate(s). You should make your roommate aware of the new student that will be moving in.
lease reassignment vs. sublease
LEASE REASSIGNMENT
Best option if you plan to leave Avant permanently
Your lease is terminated when you sign the N11 and is reassigned to a new student
Your last month's rent deposit and key deposit are applied to the last month you stay with us Coordinating room inspection and move out date/time is responsibility of the resident
SUBLEASE
Best option if you plan to return to Avant
Lease is still under your name, unit is still your responsibility
Subtenant pays rent to you, you pay Avant
Cleaning, handing over the keys, and other move-in related tasks are the responsibility of the resident
Both you and your subtenant sign the an agreement between that adheres to our lease agreement
$250 administrative fee
Must reassign or sublease to a postsecondary student
New student must be same gender as your roommates unless you rent a studio, or your roommates prefer a mixed-gender cohabitation
Apartment is to be deep cleaned before the next person moves in and pay for any outstanding damage/cleaning fees
Management should be informed of your moveout date
LOOKINGFORASTUDENT TOTAKEOVER?
Although it is the resident’s responsibility to find a new student to reassign their lease or sublease to, our previous residents have had luck with the following groups/websites. We’ve compiled a list of resources here:
Facebook Group:
https://www.facebook.com/groups/torontometropolitanuniversitytmuoffcampushousing/
https://www.facebook.com/groups/265335110220928/:
https://www.facebook.com/groups/370115193161790/ ILS Platform: https://www.places4students.com/