Understand the benefits and drawbacks of subletting a room.

Whether you've recently moved to a new city and you need a place to live or you want to maximize savings and don't want to go through the process of collecting financial documents (think: pay stubs and tax returns), subletting a room can be advantageous. Maybe you're uncertain of how long you'll be located in a given destination, or perhaps your credit is shot and you want to find a room without needing to secure a co-cosigner. Regardless of your housing situation, before you search for a room for rent, keep these considerations, caveats and pro pointers in mind.

Understand the benefits and drawbacks of subletting a room. There are a few enticing propositions for prospective renters looking to forgo getting locked into a yearlong lease in favor of a month-to-month arrangement. For example, subletting a room often means not having to pay a security deposit or the last month's rent, which may be welcome news if you don't have much socked away in savings accounts. Plus, some landlords do not require a credit check.

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