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What Is A Commercial Sublease Agreement?
A commercial sublease agreement is a contract between a tenant (sublandlord) and a new tenant (subtenant) that the space rented by the Sublandlord will be used by the new tenant. This means the original tenant allows other people to use the space under a contract. However, doing this business should get concern from the original landlord before renting an area to another person. Usually, the subtenant will pay the payment to the original tenant who will pay the space to the landlord. In this case, the landlord will hand over the responsibility to the original tenant for damages even though it is caused by the subtenant.
On this page, we provide you agreement template for sublandlord and subtenant so you will not suffer any loss and experience too much damaged caused by the subtenant. Conversely, the subtenant will feel safe and get his/her right when staying in the rented space.
How To Make Commercial Sublease Agreement?
Typically, the rental agreement for subtenants are mostly the same as the regular lease contract, but of course, it has some improvements. There are some points need to be included in the commercial sublease agreement, which is as follow:
Name of All Tenants
Make sure you include all the basic details in the contract whether the subtenant will live alone or with a roommate. Everyone in the space should be included. In this case, when the agreement has been signed, each person who uses the space will have the responsibility for the damage and other things just like in the agreement. In case the subtenant violates the agreement, you can terminate it.
Limits on the Occupancy
Keep in mind that you limit and specify who can use the space. State it clearly that only tenants who have signed the contracts are the ones who are allowed to use the space and facility. It means you have clauses for the subtenants who might move the relatives or friends without permission.
Terms and Conditions
A rental agreement usually applies self-renew unless it is terminated by the tenant or landlord. Meanwhile the lease agreement last in a year, but this also depends on the preference agreed by both parties. The flexibility depends on you.
Specify the amount of the lease and decide whether you want it to be paid for the first month or last month. State also the payment method, charge when a person pays the rent late and so on.
Asking the subtenant to pay a deposit is great because this will protect you and the properties from damage. To avoid any dispute, you should state it clearly on the contract in terms of return of deposits, use, and also its limit.
Repairs and Maintenance
Since the person is using the space, the subtenant will hold the responsibility in terms of maintenance and repairs. This includes their responsibility in keeping the sanitary, and properties clean.
Additionally, small things like pets and parking area matter a lot in the agreement. Keep in mind you write all of the things in details so you will not get charged by the landlord due to lack of responsibility.
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