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HOW IT WORKS
How it works
Do you need to move your business? If you're already leasing a property, a Commercial Sublease may be a good option. A Commercial Sublease is an agreement between an existing tenant of a commercial property and another person, know as the "subtenant," who wants to sublease the property for business or commercial purposes. This is usually for the remaining term of the original lease, known as the "Prime Lease."
You can use a Commercial Sublease if the original lease specifically allows subleasing, or the tenant has the landlord's written approval and permission. The original landlord or owner of the commercial property will continue to be referred to as the "Landlord" in the sublease. After signing the Commercial Sublease and obtaining any necessary consent from the landlord, the subtenant is entitled to possession of the property for the duration of the sublease. If the parties expect to modify other provisions from the Prime Lease, you should consult an attorney who can prepare a more flexible document.
Other names for this document: Commercial Sublease Agreement, Commercial Real Estate Sublease, Commercial Sublease Contract
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