Points To Think About When Creating A Commercial Sublease Agreement
A correctly structured sublease can be a prudent method in a commercial lease transaction. Nonetheless, if improperly prepared, a sublease can needlessly subject all three parties (the proprietor, tenant, and subtenant) to unforeseen liabilities as well as dangers. Prior to participating in a sublease, the celebrations need to thoroughly evaluate the master lease agreement to determine (among other points): 1. Whether the prior authorization of the property owner is needed. 2. If the subtenants proposed to use the space are an allowed use under the master lease. 3. If any type of enhancements or renovations to the space made by the subtenant ended up being the building of the property manager upon discontinuation or expiration of the sublease. 4. Whether all terms and conditions of the master lease are immediately incorporated into the sublease. 5. If the master lease calls for the payment to the property manager of a charge to reimburse the property owner for its lawful as well as ac