Can you sublease a business

A mixture of office and storage space available in George Road Business Park. Starting from 4, sq ft, to 93, sq ft. Modern industrial unit with offices available to let, located in a popular and established commercial area just off the A Hither Green Studios comprises of three connected buildings located on the corner of the busy Hither Green Lane George Road Business Park, is a 93, sq ft estate covering 4.

The building itself is a single…. Sycamore Gardens offers fantastic residential flats across 3 floors with a shared car park to the rear…. For this reason, it is helpful to sublease from someone in the same profession.

For example, an attorney should first seek to sublease from another attorney if they are sharing space. By teaming with other similar professions, it can help dispel the small business atmosphere. You are also at the mercy of the decorating tastes of your sublessor. You will be limited to the changes you can do with the spaces you sublease.

Legal issues can arise if you have problems with either the sublessor or the sublessor's landlord. To minimize your legal exposure and protect rights as a sublessee, be sure to have an attorney review your sublease and the original lease before signing. If the sublessor negotiated a "bad" deal with their landlord, they might try to pass certain fees and higher rent along to you.

Be sure to read both the sublease and original lease and compare your sublease terms to other comparable rents and offers in similar spaces. This is one reason why you should look at as many other spaces as possible before deciding on any particular space. If your sublessor defaults by not paying the landlord or property manager, it could affect your sublease.

For example, you pay the sublessor rent, but the sublessor does not pay their landlord. You can address this by including in your sublease rights to recover costs and damages if you are evicted because of the sublessor defaulting.

If you need repairs to the property or other services provided by the landlord, you may still have to go through the sublessor for remedy. It can cause delays and headaches in problems being addressed and can complicate legal remedies for unresolved problems. Despite the disadvantages, subleasing generally offers new and small business owners an affordable and convenient way to get out of the home-based office and into the "real" world.

It is important to review the pros and cons of each opportunity and have a professional—attorney or licensed real estate agent—review the documents before signing. The information contained in this article is not legal advice and is not a substitute for such advice.

For current legal advice, please consult with an attorney. Actively scan device characteristics for identification.

Use precise geolocation data. In most cases, the new tenant will have no direct relationship with you. The old tenant will have responsibility for any breaches of the lease by the new tenant. Dashboard Make a document Ask a lawyer Get guidance Home.

Profile information Account settings. Make documents Ask a lawyer Get guidance About us. If you're a landlord and your tenant wants to sublet the business premises, you'll need to consider creating a licence to sublet.

Provide notice. You may be required to provide advance notice to your landlord that you are transferring rights to another renter. If your lease clearly states your ability to transfer, adhere to the notice time mentioned.

Find a tenant. If possible, screen tenants until you find a suitable renter. Draft and sign a Commercial Sublease Agreement.

Once you have found a trustworthy prospect, you must draft a Commercial Sublease Agreement to address the terms of their tenancy. You are now referred to as the sublandlord , and the new tenant becomes the subtenant. Discuss the terms of the sublease with your landlord to ensure they approve.

For arrangements that involve subletting a portion of your commercial space, ensure the space is clearly described in the sublease. Sign the agreement with the subtenant and restate the terms to confirm their acknowledgement and understanding of the tenancy. Carry out the sublease. As the sublandlord, you are liable for the subtenant. For example, you are responsible for collecting rent and for any damage caused during their tenancy.

Essentially, there is little to no legal relationship between the subtenant and landlord. Pros to Subleasing: You are able to quickly transfer partial rights of a commercial property to save money on rent expenses. Cons to Subleasing: You may be adding to your workload by managing a tenant, in addition to your own landlord-tenant relationship. Get Started. Assigning a Commercial Lease Assigning a commercial space means to transfer the remaining interest of your lease to a third party.

For example, if your business needed to downsize, yet you were locked into a fixed term with no option to sublease part of the space, you may be granted the option to assign the lease to another tenant. Contrary to subletting, you do not plan to return to the space. After you have assigned the lease to a new tenant, you should get the landlord to release you of financial obligations via writing in order for you to be free from any future liability.

Otherwise, you may be held responsible if the third party does not adhere to their obligations.