First off, make sure that you follow the right procedure and a copy of the laws relating to real estate and lease agreement, as several states, counties, and municipalities have strict laws regarding subletting or subleasing.
Lease and Sublease
The concept of lease is quite simple, and in common language, it can be defined as a contract where the lessor (landlord) rents or leases out an asset to the lessee (tenant) against some consideration, that in maximum cases is money. The terms landlord and tenant are usually used in context or in reference to real estate. A contract for sublease is the one where the lessee (tenant) leases out a part or the entire property to a third-party who in turn becomes a lessee (tenant).
A is a real estate company which leases out buildings. A leases out or rents out 3 floors of a building to another company B as office premises. Here A becomes a landlord and B becomes a tenant. B further sublease a floor to another company C, which makes C the sub-lessee. Sublease agreement is actually a legally enforceable contract, and hence, it is necessary to verify even before you think of subletting or taking a sublease.
- Point number one, check all the applicable laws, and get to know whether the subletting can become illegal in any way. Next, check your original agreement with the landlord, as in some cases, subletting is completely barred.
- In cases where the property is to be sublet, one needs to have a complete disclosure of facts. In such a case, the sub-lessee and sub-lessor should have a disclosure of facts such as rent amounts and security deposits with the original landlord.
- Lastly, both the parties should obtain a consent and contribute to a security deposit.
Sublease Agreement Template
Here, a sublease agreement sample cum template is provided that you can use, print or modify according to your own need.
|Agreement for Sublease of Office Premises|
This document represents a legally enforceable contract and agreement that provides a sublease to C company from the lessor company B who is the lessee of company A, the original owner of the said property. The property in question is located at address of the property, and is a three-floor property, out of which the upper floor is being leased to Company C. The details of the said sub-leased floor go as:details of the property.
With the consent of the original landlord and, as per the original agreement between company A and B, the following are the details of the sublease between B and C:
- Company C shall occupy the premises on the third floor ofaddress of the property.
- The contract to lease and occupy shall commence from date and end on date.
- Company C shall deposit $__________, as a security deposit with company B. Company B shall be authorized to deduct reasonable expenses from the deposit for any repairs incurred for the property, which have, or may have been caused as a result of damage by company C.
- Every month, company C is expected to pay company B, $____________, as rent and consideration against the sublease and the right to use the premise.
The aforementioned are the general terms and conditions of the sublease contract. The law of the land shall act as the final judge in case of disputes.
Names, Signatures and seals of the contracting parties
In cases where the agreement is long term, important, or consists of legal complications, it is advisable to consult a lawyer or attorney instead of using a agreement template.