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 ?
During this sub-let period, Cobalt will be relieved from paying the contracted day-rate and the Cobalt contract for the ENSCO 8503 will be suspended.
If the leasing of 56A Plasmawr Road represented best value, then I would suggest that anybody, anywhere grab as many commercial leases as possible, pay small premiums and then sub-let happily for 99 years.
The landlord, on written request, may be willing to consider granting a concession for a period of six months allowing you to sub-let in the short term because at least the property will be occupied.
But the row continued and McLeish eventually admitted receiving pounds 36,122 in rent from five sub-lets dating back to 1987.
O'Rourke told them she said she had sub-let the room to a man called Marco, who claimed he was going to set up a gym, and had received two rental payments.
She claims more than any other AM in Wales for her constituency office, which she sub-lets from the Lib Dems.
Many of the shopkeepers made their way to Carol's newsagents in Page Moss Parade, Huyton, which Mr Al-Selwi sub-let.
Police said the two men shared a 10-foot-by-10-foot bedroom they sub-let from a married couple, who also lived in the apartment.
Earlier this week, in a clear-the-air press conference, Mr McLeish said five tenants had sub-let rooms at his constituency office in Glenrothes, Fife, while he was an MP, paying a total of more than pounds 36,000 in rent.
Building has a fenced lot for vehicle storage, a loft for additional use; and lease allows you to sub-let offices or retail space.
They take out a tenancy and then sub-let to multiple occupants.
The company has agreed to sub-let 4,200sqft of first floor space from engineering consultancy Faber Maunsell, who have the whole of that level of the building at a reported pounds 22 sqft.