Learn the ins and outs of sublease arrangements for office space, like important details, considerations, and limitations.
What is a Sublease?
A lease arrangement where a business leases a property or space within a property from an existing tenant rather than directly with the landlord.
Sublease Details for Tenants
As the subtenant, you occupy the office space (or a portion of the space) for the remaining term (or a portion of the term) of the original lease. The original tenant acts as your landlord during this time with some limitations.
When you sign a sublease agreement you become the subleasee (or subtenant) and will be restricted by the terms of a master lease with the original tenant.
- No certainty beyond original lease
- Existing use clause may prohibit your use type
- Conflicts may exist with sublandlord use type
- If sublandlord ceases to exist your lease is dependent on recognition agreement
- Limited to existing conditions within space