Do you have a subletting policy in place?
Many landlords prohibit subletting altogether, figuring that a contract is a contract and, if necessary, they can collect the rent payments by going to court.
But court costs can be expensive and even your best tenant might be faced with unexpected circumstances, such as moving for work, going to care for a sick relative, or loss of job.
This Sublease Agreement Template is an agreement between the landlord, original tenant, and sublessor (aka the new tenant taking over the lease). It simply states that the new tenant will pay the rent by a certain deadline each month but that the old tenant’s security deposit will still pay for any damage or cleanup necessary when the lease ends.
Yes, subletting a property is one additional step but it also insures that you continue getting your rent payments without the expense of going to court.
As always, our attorneys make us say it… these forms are for reference only and you should always pass any forms you use for your business by a competent attorney in your local area to make sure they jive with all state, federal, and local law.
Download free Sublease Agreement Template
Download Instructions:
- Right click on the download link below
- Click “Save As” or “Save Target As”
- Save it to your computer
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I can’t open the sub-lease template. How is it sent?