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Rental Sublease

Unless a landlord permits subleasing under a tenant's lease terms, a tenant may pursue a rental sublease, though a landlord must usually still be notified and agree to give consent to the sublease. A landlord may ask for additional information before allowing a sublease, and a credit check or background check may be obtained to determine the landlord's risk in allowing the sublease. Regardless of whether a landlord approves or denies a sublease, the original rental tenant is still responsible for the terms of their lease. If a sublease is approved, the original tenant then collects rent from the subtenant, and uses the funds collected to pay rent to the landlord. In some cases, a tenant may charge less than the original rental price for a sublease, and personally pay the remainder. In other cases, often when a rental sublease includes furnishings and other household items, a tenant may charge more than the original rental price.

Fast Facts

  • In mid 2009, the median price for a sublet in Detroit, MI was $525.
  • New York law states that a subtenant in a furnished rent stabilized property may not be charged more than the stabilized rent, plus a 10% surcharge.

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  • Residential Sublease Agreements

    A subleasing contract is an effective method to allow a tenant to save money on expenses if they decided to va...
    • Site: landlordtenantlawfirms.com
  • How to Sublease Office Space

    If you are looking for commercial property, you may wish to sublease office space. Corporate restructuring and...
    • Site: realestatelawyers.com
    • 1 of 1 user(s) found this useful
  • Commercial Building Lease

    Commercial Leasing? Renting a commercial space instead of purchasing a commercial real estate is an excellent...
    • Site: landlordtenantlawfirms.com
  • Sublet Agreements

    Subletting occurs when a tenant decides for whatever reason to vacate their lease premises prior to the lease ...
    • Site: landlordtenantlawfirms.com
  • A Sample Commercial Lease Agreement Examined

    Although there is not a universal template for a commercial lease agreement, many agreements contain similar t...
    • Site: realestatelawyers.com

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