Subleases and Assignments
Sublease- A rental agreement between a tenant and a subtenant where the subtenant will make rental payments to the tenant, instead of the landlord. The tenant remains completely responsible to the landlord for rent and any damage to the property, including any damage caused by the subtenant.
Assignment- The transfer of all of one tenant’s remaining lease rights and obligations to another tenant. Depending on how the assignment is drafted, the assignment may relieve the first tenant from being responsible to the landlord for any rental payments or damages after the transfer occurs.
Drafting lease terms to permit, or prevent a tenant from subleasing or assigning a rental property or to address an ongoing liability of a tenant who is permitted to sublease or assign can be tricky but the attorneys at James G. Dibbini & Associates have years of experience drafting and analyzing lease agreements and know how to protect your rights. Give us a call and let us help you.
Assignment- The transfer of all of one tenant’s remaining lease rights and obligations to another tenant. Depending on how the assignment is drafted, the assignment may relieve the first tenant from being responsible to the landlord for any rental payments or damages after the transfer occurs.
Drafting lease terms to permit, or prevent a tenant from subleasing or assigning a rental property or to address an ongoing liability of a tenant who is permitted to sublease or assign can be tricky but the attorneys at James G. Dibbini & Associates have years of experience drafting and analyzing lease agreements and know how to protect your rights. Give us a call and let us help you.
