Knowledge Focus: Subleasing
Subleasing
Subleasing (sublets) is a tenant entering into a leasing agreement with a sub-tenant or new tenant. If not dissallowed in the lease, this is a legal way to transfer the obligation of a long-term lease. Moreover, a lease to a third person by the tenant of a part of the premises or of the full premises, but for a period less than the term of the primary lease between the landlord and tenant. The tenant is still responsible for missed rent payments and/or damages done by the sub-tenants. The tenant becomes the landlord to the sub-tenant.
