Sublease
A lease where a current tenant rents all or part of its space to another party for some or all of the remaining term. The original tenant usually stays liable, and landlord consent is typically required.
Also called: sublet, subletting, sublessee, subtenant
Related terms
A contract between a landlord and tenant that sets the rent, term, deposit and rules for using a property.
A person or business that rents a property from a landlord under a lease.
The owner who rents a property to a tenant. Landlords must follow fair housing law and state and local landlord-tenant rules.
A promise by a business owner to be personally responsible for a lease or loan if the business cannot pay. Landlords and lenders often require one from small or newer businesses.
Property used for professional and administrative work, from small suites to high-rise towers. It is graded by class, leased by rentable square foot, and often uses full service gross leases.