The process of leasing space from a Tenant who is already obligated to a Landlord. A tool used to relieve a current tenant from the space. Does not normally release the primary tenant or their guarantors from the original lease. Most leases require Landlords consent. Subtenants need to confirm all aspects of the lease in writing with both the original Tenant and the Landlord. To make them attractive, most subleases are done at a discount from the face rate on the lease and the original primary Tenant absorbs the difference.
A process by which a tenant leases a rented property to another tenant.This new tenant is bound by the terms of the original lease.
Partial transfer of a tenant's right in a rental property to a third party.
The leasing of an apartment by a tenant to a third party for part of the tenant's lease term. Also refers to renting an apartment in a co-op (see cooperative).
Where the tenant lets part or all of the premises to a subtenant, as permitted by the terms of the lease. It differs from assignment in that the head lessee remains responsible to the landlord for the payment of rent and fulfilment of other obligations.
The leasing by the tenant to another person who holds under him.
The leasing of a premises, in whole or in part, by a third party.
The leasing of space from one tenant to another tenant.
The leasing of premises by a lessee to a third party for part of the lessee's remaining term. See also assignment.
A leasing by one tenant to another, who holds the right of use and occupancy subject to the original lease; the sublessee.
Process by which a lessee leases he property to another lessee.