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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

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Articles

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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
  • Subleasing Benefits and Risks

    Current adverse economic conditions are causing many tenants to consolidate and reduce their space requirement...
  • Getting Out of Commercial Leases

    If you are trying to get out of commercial leases, you should consider the ramifications and these tips in adv...
    • Site: realestatelawyers.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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