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Making a Commercial Sublease
Using a Commercial Sublease Agreement, you can lease property that you may no longer need or part of a property that you also occupy. Often commercial leases are long term, sometimes up to ten years and include expensive penalties for terminating the contract early. For this reason, many tenants may benefit from a Commercial Sublease Contract.Use the Commercial Sublease document if:
If your Commercial Lease Agreement says you can sublet the property, you may consider subletting all or part of the property if you are looking to decrease expenses, need to move to another property, or are going out of business. You may even choose to sublet to multiple businesses.Other names for this document:
Commercial Sublease Agreement, Commercial Real Estate Sublease, Commercial Sublease Contract
Sublease Agreements include items that most Commercial Lease Agreements including such as terms, payments and what happens if the contract is terminated.
If your lease does not specifically state whether you can sublease or not, you can ask for a Consent to Sublease from your landlord or property manager. This document proves that you have permission from the landlord to sublet the space. You'll want to make sure you get this permission, otherwise you may be found in violation of your lease and risk termination. Your landlord may also have opinions on what types of businesses can move in.Additional items to consider including in a shared space agreement:
There are many other things to consider beyond the basic items included in a Commercial Sublease Agreement. Often parts of the space are shared, so you many want to include details that will help all tenants get along and businesses running smoothly. These topics may not have to be in the actual lease, but should be agreed upon. Additionally, some of these items may be in the original lease, so you want to make sure your sub-tenant doesn't cause you to violate the original lease agreement.
For the most part, subletters are required to work through the sublandlord (the primary tenant) rather than directly with the property management company, which puts a greater burden on you if you are the one managing the Sublease Agreement. However, it also prevents numerous parties from contacting the property manager about the same property.