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The video tutorial explains the sublease consent form's importance in a sublease agreement. A sublease agreement is distinct from an assignment, involving a tenant and a subtenant, usually for part or all of the premises. In a sublease, the tenant retains privity of contract with the landlord but transfers privity of estate to the subtenant, creating separate contractual relationships. The landlord does not have a direct relationship with the subtenant. If issues arise with the premises, the tenant must communicate them to the landlord. Unless a lease explicitly restricts subleasing, tenants are typically assumed to have the right to sublease, but it's advisable to obtain consent to prevent misunderstandings.