A commercial sublease agreement is an agreement that allows a tenant of a commercial property to rent out part of or the whole premises to another business or individual.
A commercial sublease agreement is strictly to be used where the property will be used for commercial activities. The property will be subleased to another business or individual who will be carrying on a business.
A residential sublease agreement (or a sublease agreement for Scotland) is strictly to be used where the property is a residential one and will be subleased to another individual, multiple individuals, or a family who will be living in the property.
Yes, it is mandatory to have a commercial sublease agreement that clearly sets out the terms and conditions of the parties to the agreement. This is also the case because the landlord of the property will generally need to give their consent before the property can be subleased.
A subtenant is the person or business that rents commercial property from the original tenant rather than renting directly from the landlord.
The sublandlord is the original tenant of the property who will be renting out the property to a new business or individual (i.e. the subtenant).
Before entering a commercial sublease agreement, the landlord or owner of the property must first give their consent to the subleasing of the property. This will need to be done using a formal consent for subleasing of commercial premises agreement.
Once completed, the parties should sign the sublease agreement. If a party is a company or LLP, the agreement should be signed by the person authorised to represent them. The parties should keep a copy of the signed agreement for their records.
The following documents can be attached to a commercial sublease agreement:
Yes, it is necessary to have a witness for a commercial sublease agreement. The witness must be at least 18 years old and not related to any of the parties to the agreement.
The commercial sublease agreement must contain:
You can choose to consult a lawyer if you need help.
The lawyer can answer your questions or help you through the process. You will be offered this option when you complete the document.
You fill out a form. The document is created before your eyes as you respond to the questions.
At the end, you receive it in Word and PDF formats. You can modify it and reuse it.
Guides to help you
Sublease Agreement - Commercial Lease - Template
Country: United Kingdom