What happens when leaseholders get an applicant?

When the first qualified renter applies to your place, Flip works with your landlord to get them approved, moved in and paying rent. You can focus on your next move, while we make sure you're not paying rent in two places at once!

Read through these steps carefully to make sure everything goes off without a hitch.

Step 1. Renter applies
Step 2. Lease details get finalized
Step 3. The sublease gets signed
Step 4. The landlord reviews and approves

Step 1. Renter applies

Congrats! You've got an applicant. They're prequalified already - if you look at your listing, you'll see that it's not possible to apply without adding the verification docs you asked for (more on that here) - but they haven't put a deposit down or signed a lease yet. This means they won't be quite locked in until you confirm you're good with the dates of the sublease - so do that fast!

Step 2. Lease details get finalized

Review the lease details, make changes and get back to them right away to make sure they don't apply anywhere else. You can do this by clicking on the three dots in the top right of the box that says "lease details." You can change the start date, end date, rent amount or security deposit amount. Make sure that you’re happy with the lease details before you sign it - changing it later would require voiding your lease agreement and making a whole new one!

Remember: your renter won’t be locked in until they countersign the sublease and put a deposit into escrow.

Step 3. The sublease gets signed

You'll sign the sublease and then they'll sign it after you. You may be wondering why we suggest you both sign the sublease before we even know for sure if your landlord will be good with the arrangement. Trust us, this is the best way to do things: landlords always want to see your signed sublease agreement (along with the subtenant's qualification details) before they approve a sublease. That’s why we have you and your subtenant sign the document before we get your landlord’s approval.

Don’t worry - the lease is only binding once your landlord approves.

Step 4. The landlord reviews and approves

Everything is now in our hands, and we know what we’re doing! Our team of leasing experts will review the application requirements we have from your landlord, complete all the paperwork they need and submit it to them.

We’ll follow up until you have an approved subtenant with their first month of rent on its way to you!


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