What is Sublease?
The sublease occurs if a person, who is a tenant of a property, finds another person to pay part or all of the monthly rent. That person is the sublease. If a company no longer needs a particular space, but still has a remaining term to fulfill in its lease, instead of paying a purchase commission or leaving the space empty, it sells that space to a third party, compensating some of the costs.
In general, the sublease must comply with the same rules as the original tenant. A sublease should know that the sublease approval comes from the owner and from what is detailed in the main lease agreement. Both the tenant and the sublease must be informed about local rules and ensure that the owner has given their approval and follow that the rights in the original lease.
How to work?
In order to legally sublet, you need authorization from the property owner. In this way, you will have the opportunity to know the person who will inhabit the property or the use that it will give to the property. The sublease authorization can be given from the signing of the lease agreement as to the main agreement.
However, even if this permission has been given from the beginning of the rental of the property when the owner is going to sublet, the owner must be notified. Therefore, it is very rare for a landlord to allow subletting from the initial rental contract.
The first step of tenants before subletting
Before subletting a home, office or any part of a property to another person, are sure to check with your landlord before; this way you make sure that subletting is allowed. Once you verify that there is a sublease clause in your lease, and you receive the owner’s permission to sublet the property, there are several things to consider before signing an agreement with the other party.
Requirements and Important Points
The sublease, that is to say, the new tenant has no greater responsibilities towards the owner. And the tenant will never stop responding to the landlord as the first obligor. In such a way that the payments made by the sublease will not be made directly to the owner of the property, but to the tenant who in turn must continue to pay the rent to the landlord.
Also, as a landlord, you should consider some points as follow;
- It is not necessary to formalize it with a notary public.
- The main contract must be concluded for at least one year. When the lease is finished, the sublease will end.
- Nothing that includes the sublease contract that could contradict the lease will be valid or prevail until the goods are returned when the contracts are terminated.