- Category: Leases & Titles
You will often hear the phrases of subletting out a property and maybe a subtenant cropping up somewhere. Or perhaps more an underletting that comes to light.
In terms of what such subletting means and a basic definition – it’s allowing another tenant in a property ‘underneath’ the current and primary tenant.
So, the existing lease stays in existence – not like an assignment where it is transferred to another tenant.
You place a new lease below this, hence the phrase ‘sub’ or ‘under’ lease.
The existing tenant is then right in the middle of the landlord and new subtenant. So they act as a direct landlord to the subtenant, but then a tenant back to the leading landlord.
How subletting can help
These are underutilised, particularly...Write comment (0 Comments)