A Commercial Sublease Agreement will cover the key terms of the relationship between a tenant, sub-tenant and the head landlord.
It can get quite complex since there are multiple parties involved, so you want to make sure a lawyer reviews your Agreement to ensure that all the rights and obligations are clear, and the right risks are covered.
What Is A Commercial Sublease?
Where a landlord leases premises to a tenant for business purposes, a Commercial Lease Agreement comes into effect. In some cases, a tenant may also want to sublet this property to a third party. However, the tenant needs to make sure that the head lease allows this.
When this happens, a Commercial Sublease Agreement is necessary. It will outline the terms on which the incoming sub-tenant will move in, and the responsibilities of each party during the sublease. For example, it cannot violate any of the terms in the head lease.
Why Do I Need To Have It Reviewed?
A Commercial Sublease can get tricky if you’re not familiar with the terms of your Head Lease. It should cover things like the consent of the head landlord, payment of rent, lease expiration, security deposit and other key details.
If these aren’t drafted correctly, this might cause some friction with your Head Lease, and the last thing you want is to be in breach of your contract.
Getting a lawyer to review your Commercial Sublease Agreement can ensure that you’ve covered all the risks that are specific to your arrangement, and also ensure that you remain compliant with your Head Lease Agreement.
Where Can I Get A Lawyer To Review My Commercial Sublease?
For any business, it’s important to get the right legal help and make sure the person reviewing your documents is taking into account your specific needs.
At Sprintlaw, we offer a Commercial Sublease Review package that includes:
- A legal review of your Commercial Sublease Agreement and heads of agreement
- A review of one title search on the leased premises
- Phone consultations with a Sprintlaw lawyer
- High level review of your Head Lease to ensure you are compliant
- A written list of changes to the lease for you to request from the other party
If you need your Commercial Sublease reviewed by an expert lawyer, you’ve come to the right place. Sprintlaw has a team of lawyers who are ready to answer your legal questions and help you go through a simple, stress-free process.
If you would like a consultation on your options going forward, you can reach us at 1800 730 617 or email@example.com for a free, no-obligations chat.
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