Your lease consists of multiple documents/addendums:
• Residential Lease
• Damage Addendum
• Addendum to Lease
• Rules & Regulations
• Joint Lease Acknowledgment Letter
You were emailed a copy of all your paperwork shortly after you signed for your Madison Gardens, but you’re welcome to visit our as a quick reference 24/7! To request a copy of all your paperwork, simply email .
You have the option to sublet or assign your bedroom. The biggest difference is with a sublet agreement, you remain liable for damages/unpaid rent, because a sublet agreement is between tenant and sub-tenant, not Matchbox. With an assignment, you’re released from ALL liability of the lease agreement, because with an assignment the new tenants’ name replaces yours on the lease agreement. There’s a $150 sublet fee and an assignment fee equal to 1 months’ rent. We highly recommend an assignment if you do not plan on returning to or moving into the apartment.
To move forward, we’ll need written approval from ALL roommates on accepting the new tenant (a simple “I approve Jane Doe to live with us” is perfect). There is paperwork for both routes (Sublease Agreement or Assignment of Lease) to be completed by the assignor/original tenant. These are simple forms to be completed with the Property Manager.
Please keep in mind that finding the replacement tenant is ultimately your responsibility. Here are some helpful places to advertise:
1. If ALL Guaranties of Lease are returned to management prior to commencement date of your lease, each tenant is responsible for 33.33% of all amounts due under the lease (versus joint liability for the full 100%).
2. If NOT ALL Guaranties of Lease are returned to management prior to commencement date of your lease, all tenants are jointly and severally responsible for all amounts due under the lease (versus liability for 33.33%).
Please keep in mind that joint and several responsibility means that all charges, damages &/or deductions are split evenly amongst roommates regardless of the scenario. This includes charges, damages &/or deductions present inside an individual bedroom or bathroom, as well as common spaces.
Multiple Tenants. Where more than one Tenant signs this Lease, a deduction to be made from the Security Deposit will be joint and several, and Landlord is not liable for any understanding that may exist between two or more Tenants as to the portion of the Security Deposit that one Tenant may be entitled to, as opposed to another Tenant.
It is further agreed to that each Tenant that signs the Lease Agreement for the above stated property during the term of this lease shall be jointly and severally responsible for any and all damages to the Property.
Agreements/disagreements/understandings between roommates are between roommates only and are not between roommates and Landlord/Agent and shall be handled amongst roommates.