Subleasing is the act of leasing out property that you are already renting from the original owner. While primary lease contracts are signed between the owner and the first tenant, the sublease contract is signed between that tenant and a subtenant. As such, a sublease contract will be different from your typical lease contract forms.
If you are looking to sublease rental or commercial property, this list of free sublease Contract Templates and samples should help speed up the contract-drafting process.
Original lease holders will often sublease or sublet a property or part of it to a subtenant, thus becoming sublandlords, for a number of reasons:
Ultimately, only the original tenant is accountable to the owner for the full payment and maintenance of the head lease.
This system works for subleasing equipment, machinery, and even vehicles that you are holding on lease as well.
Note: Make sure the original “prime” or “head” lease specifically allows for subleasing. At the very least, you must have a written approval and permission to sublease from the owner. This goes for both commercial subleasing and residential subleasing.
These are samples and templates can be downloaded as free .doc/.docx and PDF files.
We might not have the perfect sample tailor-made to your situation, but these professional-grade, quality templates are a great place to start.
Use them as guidelines in drafting your own sublease contract—or, if all terms are applicable and agreeable with the owner, you may use them as ready-made contracts for immediate official use.
If you are a prospective subtenant, these samples will give you the familiarity with the process that you need to make an informed decision. And you need to be informed: some subleases have less benefits than prime leases.
On that note, if you are interested in subleasing in the first place, you’ve probably got a good mind for investing to expand your personal and business opportunities. You might be interested in checking out some Investment Contract Templates—these will help you draft investment agreement forms as well as guaranteed investment contracts (GIC) that reflect the interests of everyone involved.