What is sub lease explain?
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Herein, what is the definition of sub leasing?
Definition of sublease. (Entry 1 of 2) : a lease by a tenant or lessee of part or all of leased premises to another person but with the original tenant retaining some right or interest under the original lease.
Secondly, how do sublease work? A sublease is the transfer of tenancy from a tenant to a third party for a specified period. The owner of the real estate must typically approve any subletting arrangement created by the tenant. If a tenant decides to sublease, they are still responsible for rent payments and other contractual obligations.
Furthermore, what's the difference between a lease and a sublease?
A lease is a rental contract between a property owner and a tenant; a sublease is a contract between a tenant and a third party who lives in the rental property during part of the tenant's lease term.
Is it against the law to sublease?
Many states and local municipalities have laws governing a tenant's right to sublease. These laws may permit you to sublease even if your lease forbids it. For example, if the prospective tenant to sublease has a lower credit score than the landlord normally requires, the landlord may prohibit you from subleasing.