Sublease
Unlike other types of leases, a sublease is arranged atop another previous lease that has occurred. In this arrangement, the lessee from the original lease agreement decides to re-lease the property to another person, making a new arrangement called a sublease. The arrangement that occurs places the lessee in the position of both renting and paying for rent. Since the original lessee leases the property to someone else, he becomes a sublessor, whereas the third party becomes a sublessee. The new lease operates in the same manner as the original lease, but the sublessor remains just as responsible to the original landlord and that agreement. The most common use of a sublease is in real estate, but it can also apply to cars and other property that can be leased regularly.
Fast Facts
- Re-renting out a basement is an example of subleasing
- many people sublease apartments while they're on vacation




