Commercial Sublease Agreements

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Commonly Asked Questions about Commercial Sublease Agreements

What is the consent to sublease?

It takes the form of a written agreement signed by the landlord and the tenant that allows for subletting for a duration no longer than the life of the initial Lease Agreement. Subletting may be a possibility if the renter is absent on occasion. It allows rent to be paid even when the tenant is not present.

What are the rules for subletting in NYC?

In rent control, there is no specific limitation as to the amount of time that a tenant may sublet an apartment. However, the rent controlled tenant must obtain the owners written consent to the length of the sublet, and must continue to maintain the apartment as his or her primary residence.

What is the business model of subletting?

Subletting is a rental arrangement where the primary tenant leases their rented property to a third party. The original tenant, referred to as the sublessor, rents out the leased property to the subtenant, who rents the space from the sublessor.

What is subletting in legal terms?

What Is a Sublease? A sublease is the re-renting of property by an existing tenant to a new third party for a portion of the tenants existing lease contract. The sublease agreement may also be called a sublet.

What is the consent to Sublease clause?

Landlord, by consenting to the Sublease, agrees that Tenant may receive, collect and enjoy the rents accruing under the Sublease; provided, however, in the event Tenant shall be in Default (beyond any applicable notice and cure periods) in the performance of its obligations to Landlord under the Lease, Landlord may, at

What is the sublet clause in a commercial lease?

Lessee shall not assign this Lease or sublet any portion of the Premises without prior written consent of the Lessor, which shall not be unreasonably withheld. Any such assignment or subletting without consent shall be void and, at the option of the Lessor, may terminate this Lease.

What are the cons of subleasing?

Cons of Subleasing Subleasing can get legally tricky. Many lease agreements have strict rules about subletting, often requiring landlord approval. Be sure to look over your lease agreement and have a conversation with your landlord or property manager to avoid disputes and penalties.

What is the Sublease clause in a lease agreement?

The basic framework: A sublease clause permits the tenant, with certain stipulations, to rent out either a portion or the entirety of their leased space to a third party, referred to as a subtenant.