Free Commercial Sublease Agreement Template
Free Commercial Sublease Agreement Template – A sublease agreement is an agreement between a lessee of a leased property and another party, a sublessee, who leases all or part of the property from the existing lessee. The additional lease term cannot extend beyond the end date of the original lease term.
(1) The tenant wants to terminate the lease early, but the landlord refuses and instead leases to a subtenant until the lease expires; or
Free Commercial Sublease Agreement Template
A sublease is a lease that allows a tenant (sublessor) to sublease their space to a subtenant (sublessee). This requires the consent of the landlord, as subletting is prohibited in a tenant-landlord, “original” or “head” lease.
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A sublease cannot exceed the expiration date of the main lease unless approved by the landlord.
The initial lease is required to see the tenant’s rights to rent the premises. Most standard leases do not allow the tenant to sublet the property. Therefore, the tenant may be required to obtain a landlord consent form to withdraw from what was originally agreed upon and add it as an addendum.
This means that the tenant decides how much to charge the subtenant. Market rent can be determined by looking at what others are paying in the area through Craigslist, Apartments.com, and Zillow.
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After looking at “similar properties,” the tenant can get an idea of what to do for the asking price.
All of the above websites recommend using the same photos and property details to advertise.
It is essential that the tenant is present when receiving incoming calls to the property
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. Especially if the price of the property is lower than the market in order to rent the property as soon as possible.
To save time, screen potential subtenants over the phone to ensure that:
Once you’ve pre-approved individuals over the phone, it’s time to schedule a viewing of the property to see if it fits your needs.
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Before accepting a lease, it’s a good idea to have the tenant accept the tenant’s credentials through a rental application, pay a fee (usually between $25 and $50) and see if they qualify. To best screen your candidate, you should:
The additional tenant will now be their sole responsibility, meaning any late rent, property damage or eviction will be their responsibility. Therefore, it is important to receive a deposit equal to at least one (1) month’s rent at signing (see all state maximums).
Validity / End Date – Make sure the end date is no later than the original lease date. Otherwise, the sublease may be considered non-binding between the parties.
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Sub-Tenant: [Sub-Tenant] (“Sub-Tenant”) with a mailing address of [ADDRESS], who agrees to lease the Premises from the Sub-Tenant.
II. WALKING. The following persons are allowed to use the premises in addition to the additional tenant: (check one)
III. PROPERTY. Sublessor agrees to sublease, and Sublessee agrees to occupy, the property located and described:
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IV. PERIOD. The term of this Sublease shall commence on Subtenant’s possession on [BEGIN DATE] and end on [END DATE]. In no event shall the subtenant be in arrears.
V. HIRE. Subtenant agrees to pay rent to Landlord under this sublease in the amount of $[MONTHLY RENT], payable on [DAY] of each month. Rent must be paid as follows: [RENTAL INSTRUCTIONS].
☐ – A security deposit of $[AMOUNT] is required to successfully execute this sublease. The security deposit is required at the time of execution of this sublease and will be returned at the end of its term, less the prescribed deductions for damage or other liabilities (other than wear and tear).
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☐ – This DOES NOT allow subletting, but the landlord DOES allow the subtenant to accept the space.
☐ – Sublease is NOT ALLOWED and Landlord’s consent IS REQUIRED immediately upon execution of this sublease. If Landlord cancels Tenant, this Sublease will terminate with the deposit returned to Subtenant without further obligation to either party.
K S. IMMIGRATION CHECK LIST. When the sub-lessee takes possession of the premises, the Sub-lessor and the Sub-lessee shall: (check one)
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☐ – REQUIRED to complete a move-in inspection form detailing the condition of the premises, including but not limited to repairs needed, water damage or material defects. This is recommended to protect the sub-tenant’s deposit.
☐ – Unless otherwise required by law, it is NOT REQUIRED to complete a registration checklist that provides a full report on the condition of the premises.
XI. APPLICABLE LAW. This sublease is governed by the laws of the state in which the Locations are located.
Free Commercial Sublease Agreement Template
XIII. MASTER lease. This sublease shall be in accordance with the original lease agreement between Sublessor and Landlord, a copy of which is attached hereto and is named and incorporated herein as detailed herein (the “Master Lease”). The Subtenant agrees to assume all obligations and responsibilities of the Sublessor under the General Lease Agreement during the Sublease Term. All disclosures and representations required by the State and set forth in the Master Lease are part of this Sublease and, when attached hereto, shall be deemed disclosed to the Subtenant under state and local laws.
I, the Landlord, hereby agree to sublease the above described premises as set forth in this sublease.
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A sublease is when a tenant of a property sublet part or all of the premises to another tenant. Let’s break down the process.
The lessee leases part of the property to a sub-lessee for a fixed term during the initial lease term at an agreed rent.
The sub-lessee (sub-lessee) is responsible to the lessee, and the lessee is responsible to the lessor under the original contract.
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Therefore, a sublease agreement is a formal agreement between the tenant and the subtenant that establishes the tenancy within the lease agreement.
Subletting can be a great source of income. But it needs to be done right to avoid misunderstandings with tenants, agents and landlords. That’s why we’ve created a streamlined form of sublease that you can use with peace of mind.
First, subletting is a smart way for tenants to make extra money and reduce the financial pressure of paying rent.
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Tenants find tenants, usually online or through personal relationships. It can be tempting to make verbal agreements with people you know or people you seem to trust.
However, horror story after horror story shows that things can quickly turn ugly as landlords abuse the property and invade the privacy of other tenants.
If you are considering subletting, a sublease agreement is essential to reduce the risk of subtenants, while also forcing consent from the landlord to maintain all transparency.
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It may seem obvious, but this step is often intentionally or unintentionally omitted when renting — setting the stage for the next horror story. Don’t let this happen to you!
First of all, you should review your current lease agreement. Sometimes the landlord or agent will tell you whether or not subletting of the premises is allowed.
Regardless of what the contract says, you should check with your landlord to see if you can rent.
Commercial Application Example
When you submit your case, be specific about the space you plan to rent and for how long. Explain the thought process behind your decision and the steps you took to take responsibility. You can even submit a sublease agreement form to show the landlord that you are organized and conscientious in your approach.
To increase your chances of a successful subletting experience, you need to act like a landlord or leasing agent, which means vetting your applicants.
When you post a sublease ad, get a copy of the original lease ad that invited you to sign the contract. Connections, pets allowed, etc. Be specific about
Sample Sublease Contract
A descriptive ad gives potential renters more context to see if it’s worth contacting.
If you receive an inquiry, invite the tenant to inspect the property. Even if you know the tenant and they’ve seen the property before, ask them to do a thorough inspection. Viewing a property with the goal of formally acquiring a space is different from visiting for a vacation.
After the screening, interview the potential tenant to get feedback on their job security, personal relationships and experience.
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At this point, your advertising, vetting, and interviewing will narrow your candidate pool. Now is the time to present your sublease agreement.
If the tenant is willing to sign the contract, yes
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