sublease


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sublease

The relationship created when a tenant rents some or all of its premises to another for some or all of the remaining term of the original tenant's lease. Technically, if the tenant transfers all of its interest, that is an assignment. If the tenant retains some of the space, or some of the time under the lease, that is a sublease. At all times, the tenant remains liable under its lease with the building owner.

References in periodicals archive ?
Going forward, Learner predicts that in addition to incorporating more flexible options into leases, tenants may 'buy' flexibility by taking more space than needed and structuring short-term sublease agreements amid strong demand from emerging start-ups.
Yet despite these positive signs for those seeking sub-tenants, subleases are actually getting snapped up so quickly because of weaker price points compared to the direct-lease market.
In this form, the consent to the sublease should in no way release tenants from any of the covenants, agreements, liabilities and duties under a lease.
According to the report, broad market fundamentals have remained positive despite the concurrent increase in sublease availability.
FM directs the BK1 affiliate to pay BK1 annual amounts equal to 90% of FM's annual rent obligation under the sublease (i.
The percentage of available Manhattan office space being offered for sublease is also at a five-year low.
Given economic parity with a sublease, the freedom of lease termination beckons alluringly.
Preate said vehicles transferred through Qinyan remain registered to the original owner or lessee, even after the consumer who subleases the vehicle pay the brokerage fee and takes possession of the vehicle.
Some may be marketable next year, some situations may change next year," he said, but "not [all] the sublease space is going to go first [just] because it is priced cheaper.
A sublease transfers less than the entire term and interest in a lease.
The charge represents the difference between the lease and the sublease for the entire remaining term, as well as write-offs for furniture and leasehold improvements.
The bulk of the sublease space in the building is being offered by Allianz, the German insurance company, which signed a deal to relocate to 1633 Broadway over the summer.