Meaning of Lease and Sub-lease

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Commercial and Residential Real Estate is our job. In addition, we made a team of experienced agents in both categories to provide the best services to our clients. On one hand, we are working with many property owners, sellers, developers, and builders. On the other hand, we are dealing with many potential buyers and investors. That is why we are doing our best to have win-win transactions. On our website, we are trying our best to explain everything about real estate and properties in Canada to educate our clients. By having the knowledge you can make your decisions easier. If you need our help to sell, buy or lease a property, please reply! In this post, we would like to talk about the Meaning of Lease and Sub-lease.

A sublease is the re-renting of property by an existing tenant to a new third party for a portion of the tenant’s existing lease contract. The sublease agreement may also be called a sublet. A sublease is a legally binding contract made between a tenant and a new tenant (also known as a subtenant or a sublessee). The sublease gives the subtenant the right to share or to take over the rented premises from the original tenant. The owner of the real estate must typically approve any subletting arrangement offered by the first tenant, subject to local laws and regulations.

A lease is a contract between a property owner and a tenant. This post is a simple definition of the Meaning of Lease and Sub-lease. If you need to know more, be in touch with us!

BABAK MEHRABI, Real Estate Salesperson

https://www.reco.on.ca/

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