A Sublease Agreement is an agreement by which a Tenant under a lease agreement wishes to sublease the premises to another party.
*It is important to note that, despite this Sublease Agreement, the original Tenant, who is the Sub-Landlord of this Sublease Agreement, will normally be responsible for any damages caused to the premises by the Sub-Tenant during the term of the Lease. As such, if the Sub-Tenant causes any damages the Landlord will be able to claim such damages to the leased premises from the original Tenant (Sub-Landlord) who in turn will claim such damages from the New Tenant (Sub-Tenant).
Parties to this document
Sub-Landlord: is a party to the original Lease Agreement with the owner of the property. Wishes to vacate the premises during such Lease Agreement
Sub-Tenant: wishes to occupy the premises vacated by the Sub-Landlord
When to use this agreement?
When the Tenant wishes to vacate the premises and Sub-Tenant wishes to occupy it (ex: Tenant required more space for his business and so is moving to another location).
Before completing this form, please determine:
- if all or a part of the premises will be subleased
- rent to be paid by Sub-Tenant. Rent paid can be either:
- A percentage of all sums owed by Sub-Landlord to the original Landlord; or
- A flat amount to be paid in installments.
- the start and end date of the Sublease
- whether the original Lease Agreement includes a clause requiring Landlord’s consent to any sublease
- whether any conditions should be added to this Sublease (ex: furniture to be left for use of Sub-Tenant)
Specifications of this Sublease
- Sub-Landlord and Sub-Tenant can be individuals, registered businesses, corporations or partnerships.
- Attach a copy of the Master Lease between the Landlord and the Tenant/Sub-Landlord to Schedule A of this Sublease
- If this Sublease Agreement is for a portion of the space rented by Sub-Landlord, attach a floor plan of the sub-leased premises and excluded premises in Schedule B
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