What Is A Sublease?:
As with anything, to begin explaining something, it helps to offer an initial definition:
A sublease or sublet is the re-renting of a property from an existing tenant to a new and third party for a portion of the existing tenant’s existing lease contract.
How A Sublease Works:
A lease is a contract between a property owner and a tenant that transfers the ownership rights to the possession and use of the property from the owner to the tenant for an agreed-upon time period. Legally, the tenant’s right to possess the property is tenancy and subletting occurs when a tenant leases a portion of their legal tenancy to a third party as a new tenant.
One of the few reasons that a sublease couldn’t be established is if the original lease agreement prohibits it. However, in most cases, the owner must be notified and approve of any subletting agreements made by their tenant. Additionally, the control over subletting can be written into the original lease so that the owner has more control over who uses or occupies their property.
A thing to remember about subleasing is that the person who establishes the sublease is not released from their obligations to the original lease. The original tenant is still responsible for paying rent and for the repair or upkeep of the property. For example, if a subleased tenant didn’t pay rent for three months, the original tenant is responsible to pay for the overdue rent.
State Laws And Subleases:
There are many states with exceptions and rules that interact with a tenant’s ability to sublease on a property. These laws can range from allowing a tenant to sublease under certain conditions even if their original lease forbids it. For example, tenants in New York City can sublease if their property is a building with four or more units and the landlord consents to it–unless the denial for subleasing is unreasonable.
The state laws interaction with one’s ability to sublease can range heftily as there are places like New York City who have exceptions that can be made for subleasing while in Arizona, there is no state guidance afforded to subleasing and will only be permitted if the original lease doesn’t forbid it.
Examples Of A Sublease:
Typically, a lease is set for a predetermined amount of time and because of this feature of a lease, it is sometimes a situation will arise that makes keeping to a lease’s terms cumbersome. For example, if a tenant signed a 12 month lease and halfway through that lease is offered a job in a distant state, that tenant could decide to sublease the property to another tenant for the remaining eight months of the original lease. This allows the tenant to move out of the situation without having to pay incredulous amounts in fees and gets another paying tenant into the property for the landlord.
However, even something as common as a sublease can contain a seemingly innumerable about of nuances and conditions so if there are questions that you want to ask about subleasing, there are no shortage of capable and eager real estate agents in Tucson, Arizona who would be more than happy to offer knowledge and guidance!