How Does a Traditional Sublease Work?
Step 1. Landlord and tenant
sign a lease, but tenant no longer needs the space.
Step 2. Tenant and sub-tenant
(that’s you) sign an assumption and assignment of lease (often called a sublease).
The actual lease is an exhibit.
Step 3. Step 2 needs to be
approved by the landlord. Sometimes this step gets skipped, opening you up to extra
risk.
How Does Sublease Direct Work?
Step 1. Landlord and tenant
sign a lease, but tenant no longer needs the space.
Step 2. Landlord and sub-tenant
(that’s you) sign an assumption and assignment of lease.
Step 3. This creates a direct
agreement with the landlord.
Why is Sublease Direct Better?
Same deal, more certainty, less hassle.
1. You are not exposed to any risk from the former tenant.
2. You get written approval and a direct relationship with the landlord.
3. You get the exact same deal as the former tenant (in fact, the entire lease is
attached to your assumption agreement), but with Sublease Direct you have the certainty
of a direct agreement with the landlord.
