A sublease is a type of arrangement that commonly takes place in the real estate world. Here are the basics of the sublease and how it can impact those in rental agreements.

Sublease

The sublease is an arrangement in which someone that is renting a piece of property turns around and leases it to someone else. In some situations this is called a sublet. At that point, the individual that was leasing the property moves out and starts collecting rent payments from the new renter. The original renter is going to continue making rent payments to the owner of the property over the entire course of the lease.

Obligations

Whenever this arrangement takes place, the original renter of the property is putting themselves in a precarious position. They are still going to be responsible for any damage that takes place to the property. They are also still responsible for continuing to make their rental payment to the landlord. This means that if the new tenant damages the property or fails to continue making rent payments, the original renter could find themselves in trouble. If you plan on utilizing a sublease agreement, you want to make sure that you choose a tenant that you can count on.

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