Sublease

Definition: A sublease is a lease created by an existing tenant granting another person all or part of the premises while the original tenant retains a leasehold interest.

Example

With any required consent, a tenant sublets an apartment for three months during a longer remaining lease term.

Keep the distinction clear

The original lease remains important, and the original tenant generally remains responsible to the landlord. A sublease differs from an assignment transferring the entire remaining leasehold interest.

Related terms

Lease · Lessee · Assignment

Keep studying

Property Manager Duties: The Owner, the Agreement, and the Property

References: Cornell LII: sublease

Pronunciation (US): SUB-lees (capitals show stress)

Pronunciation reference: Merriam-Webster