SlideShare a Scribd company logo
1 of 8
SUB LEASE
Dr. A. HELDA MARY
Assistant Professor
Department of B Com PA
Sri Ramakrishna College of Arts and Science
Coimbatore - 641 006
Tamil Nadu, India
1
A sublease is the legal transfer of tenancy from an existing
tenant to a third party for a specified period. The owner of the
real estate must typically approve any subletting arrangement
offered by the first tenant, subject to local laws and regulations.
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.
Subleasing may or may not be permitted in the terms of the original lease, and may
be subject to additional restrictions by jurisdiction. Even if a sublease is permitted,
the original tenant is still liable for the obligations stated in the lease agreement,
such as the payment of rent each month.
A sublease is the legal transfer of tenancy from an existing tenant to a third party
for a specified period.
The owner of the real estate must typically approve any subletting arrangement offered by the first
tenant, subject to local laws and regulations.
If a tenant decides to sublease, they remain responsible for rent payments and other contractual
obligations.
A lease is a contract between a property owner and a tenant that transfers the owner’s rights to the
exclusive possession and use of the real estate property to the tenant for an agreed-upon period.
The lease states the length of time the contract is to run and the amount of the tenant’s rent. In
legal terms, the tenant’s legal right to possess the property is deemed tenancy. Subleasing occurs
when the tenant transfers a part of their legal tenancy to a third party as a new tenant.
Subleasing can be established unless the original lease forbids it.
However, in most cases, the owner must be notified and must approve
any subletting arrangement created by the tenant. Control over the
subletting process could be written into the original lease so that the
owner has some control over who uses and/or occupies their property.
A tenant who sublets property must understand that subleasing does not release them from their
obligations on the original contracted lease. The tenant is responsible for paying rent and for repairs
or damage to the property. That means that if a new subtenant does not pay rent for three months,
the original tenant that subleased the property is liable to the landlord for the overdue rent amount
and any late fees. In turn, the subtenant is liable to the original tenant for the unpaid rent.
Subleasing and State Laws
The laws of many states and local municipalities affect a tenant’s right to sublease. These laws may
allow an individual to sublease under certain conditions even if their contract with the landlord
forbids it. For example, in New York City, a tenant who lives in a building with four or more units has
the right to sublease, as long as the landlord consents—or if they deny the sublet on unreasonable
grounds, Any lease provision restricting a tenant’s right to sublease is void as a matter of public
policy.1
In San Francisco, a tenant can replace a roommate with another, even when
prohibited by a written lease, as long as the replacement meets the landlord's
application screening standards.2 For example, a landlord might demand a certain
credit score where a tenant is concerned. Subleases can apply to both residential
and commercial properties.

More Related Content

Similar to SUB LEASE-PPT.pptx

Islamic banking terminologies
Islamic banking terminologiesIslamic banking terminologies
Islamic banking terminologies
Ali Kamran
 
IAS 17
IAS 17IAS 17
IAS 17
RS P
 
Landlord and Tenant LawIn this lecture, we will continue our dis.docx
Landlord and Tenant LawIn this lecture, we will continue our dis.docxLandlord and Tenant LawIn this lecture, we will continue our dis.docx
Landlord and Tenant LawIn this lecture, we will continue our dis.docx
smile790243
 
Overcome the 5 Pitfalls of Subleases
Overcome the 5 Pitfalls of SubleasesOvercome the 5 Pitfalls of Subleases
Overcome the 5 Pitfalls of Subleases
Infuse Marketing
 
Rights of tenants under tamilnadu rent control act
Rights of tenants under tamilnadu rent control actRights of tenants under tamilnadu rent control act
Rights of tenants under tamilnadu rent control act
Altacit Global
 

Similar to SUB LEASE-PPT.pptx (20)

Leases of Immovable Property
Leases of Immovable PropertyLeases of Immovable Property
Leases of Immovable Property
 
Islamic banking terminologies
Islamic banking terminologiesIslamic banking terminologies
Islamic banking terminologies
 
Tenant's Rights Presentation
Tenant's Rights PresentationTenant's Rights Presentation
Tenant's Rights Presentation
 
Leasing forestland for hunting and minerals
Leasing forestland for hunting and mineralsLeasing forestland for hunting and minerals
Leasing forestland for hunting and minerals
 
Topic iv. ijarah and other non participatroty modes of islamic finance(2)
Topic iv.  ijarah and other non participatroty modes of islamic finance(2)Topic iv.  ijarah and other non participatroty modes of islamic finance(2)
Topic iv. ijarah and other non participatroty modes of islamic finance(2)
 
IAS 17
IAS 17IAS 17
IAS 17
 
Eviction of Tenant I What are the 5 Grounds to Evict Tenant.pdf
Eviction of Tenant I What are the 5 Grounds to Evict Tenant.pdfEviction of Tenant I What are the 5 Grounds to Evict Tenant.pdf
Eviction of Tenant I What are the 5 Grounds to Evict Tenant.pdf
 
Lease finance-presentation
Lease finance-presentationLease finance-presentation
Lease finance-presentation
 
Texas Promulgated Contract Forms
Texas Promulgated Contract FormsTexas Promulgated Contract Forms
Texas Promulgated Contract Forms
 
Residential Lease Deed
Residential Lease DeedResidential Lease Deed
Residential Lease Deed
 
Landlord and Tenant LawIn this lecture, we will continue our dis.docx
Landlord and Tenant LawIn this lecture, we will continue our dis.docxLandlord and Tenant LawIn this lecture, we will continue our dis.docx
Landlord and Tenant LawIn this lecture, we will continue our dis.docx
 
Ib&fs module 6
Ib&fs module 6Ib&fs module 6
Ib&fs module 6
 
Overcome the 5 Pitfalls of Subleases
Overcome the 5 Pitfalls of SubleasesOvercome the 5 Pitfalls of Subleases
Overcome the 5 Pitfalls of Subleases
 
Ijarah INTRODUCTION
Ijarah INTRODUCTIONIjarah INTRODUCTION
Ijarah INTRODUCTION
 
Lease
LeaseLease
Lease
 
DPC Project on eviction of sub-tenancy
 DPC Project on eviction of sub-tenancy DPC Project on eviction of sub-tenancy
DPC Project on eviction of sub-tenancy
 
al ijarah
al ijarahal ijarah
al ijarah
 
Leasing
Leasing Leasing
Leasing
 
Rights of tenants under tamilnadu rent control act
Rights of tenants under tamilnadu rent control actRights of tenants under tamilnadu rent control act
Rights of tenants under tamilnadu rent control act
 
Chapter 24
Chapter 24Chapter 24
Chapter 24
 

More from HeldaMaryA

More from HeldaMaryA (15)

AUDIT REPORT AND ITS KINDS-PPT.pptx
AUDIT REPORT AND ITS KINDS-PPT.pptxAUDIT REPORT AND ITS KINDS-PPT.pptx
AUDIT REPORT AND ITS KINDS-PPT.pptx
 
INTERNAL CONTROL-PPT.pptx
INTERNAL CONTROL-PPT.pptxINTERNAL CONTROL-PPT.pptx
INTERNAL CONTROL-PPT.pptx
 
METHODS OF DEPRECIATION -PPT.pptx
METHODS OF DEPRECIATION -PPT.pptxMETHODS OF DEPRECIATION -PPT.pptx
METHODS OF DEPRECIATION -PPT.pptx
 
DEPRECIATION -PPT.pptx
DEPRECIATION -PPT.pptxDEPRECIATION -PPT.pptx
DEPRECIATION -PPT.pptx
 
TEST CHECKING AND TECHNIQUES-PPT.pptx
TEST CHECKING AND TECHNIQUES-PPT.pptxTEST CHECKING AND TECHNIQUES-PPT.pptx
TEST CHECKING AND TECHNIQUES-PPT.pptx
 
AUDIT SAMPLING-PPT.pptx
AUDIT SAMPLING-PPT.pptxAUDIT SAMPLING-PPT.pptx
AUDIT SAMPLING-PPT.pptx
 
AUDIT EVIDENCE-PPT.pptx
AUDIT EVIDENCE-PPT.pptxAUDIT EVIDENCE-PPT.pptx
AUDIT EVIDENCE-PPT.pptx
 
AUDIT WORKING PAPERS-CUSTODY OF OWNERSHIP.pptx
AUDIT WORKING PAPERS-CUSTODY OF OWNERSHIP.pptxAUDIT WORKING PAPERS-CUSTODY OF OWNERSHIP.pptx
AUDIT WORKING PAPERS-CUSTODY OF OWNERSHIP.pptx
 
AUDIT WORKING PAPERS -OWNERSHIP AND CUSTODY-PPT
AUDIT WORKING PAPERS -OWNERSHIP AND CUSTODY-PPTAUDIT WORKING PAPERS -OWNERSHIP AND CUSTODY-PPT
AUDIT WORKING PAPERS -OWNERSHIP AND CUSTODY-PPT
 
INTERNATIONAL AUDITING STANDARDS -PPT.pptx
INTERNATIONAL AUDITING STANDARDS -PPT.pptxINTERNATIONAL AUDITING STANDARDS -PPT.pptx
INTERNATIONAL AUDITING STANDARDS -PPT.pptx
 
ROYALTY ACCOUNTING -PPT.pptx
ROYALTY ACCOUNTING -PPT.pptxROYALTY ACCOUNTING -PPT.pptx
ROYALTY ACCOUNTING -PPT.pptx
 
AUDIT DOCUMENTATION- PPT.pptx
AUDIT DOCUMENTATION- PPT.pptxAUDIT DOCUMENTATION- PPT.pptx
AUDIT DOCUMENTATION- PPT.pptx
 
AUDIT PROGRAMME - PPT.pptx
AUDIT PROGRAMME - PPT.pptxAUDIT PROGRAMME - PPT.pptx
AUDIT PROGRAMME - PPT.pptx
 
PPT-AUDITING-QUALIFICATION,RIGHTS AND DUTIES.pptx
PPT-AUDITING-QUALIFICATION,RIGHTS AND DUTIES.pptxPPT-AUDITING-QUALIFICATION,RIGHTS AND DUTIES.pptx
PPT-AUDITING-QUALIFICATION,RIGHTS AND DUTIES.pptx
 
AUDITING-MEANING,OBJECTIVES AND TYPES-PPT.pptx
AUDITING-MEANING,OBJECTIVES AND TYPES-PPT.pptxAUDITING-MEANING,OBJECTIVES AND TYPES-PPT.pptx
AUDITING-MEANING,OBJECTIVES AND TYPES-PPT.pptx
 

Recently uploaded

Salient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functionsSalient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functions
KarakKing
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
heathfieldcps1
 
Vishram Singh - Textbook of Anatomy Upper Limb and Thorax.. Volume 1 (1).pdf
Vishram Singh - Textbook of Anatomy  Upper Limb and Thorax.. Volume 1 (1).pdfVishram Singh - Textbook of Anatomy  Upper Limb and Thorax.. Volume 1 (1).pdf
Vishram Singh - Textbook of Anatomy Upper Limb and Thorax.. Volume 1 (1).pdf
ssuserdda66b
 

Recently uploaded (20)

Application orientated numerical on hev.ppt
Application orientated numerical on hev.pptApplication orientated numerical on hev.ppt
Application orientated numerical on hev.ppt
 
Salient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functionsSalient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functions
 
This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
 
Single or Multiple melodic lines structure
Single or Multiple melodic lines structureSingle or Multiple melodic lines structure
Single or Multiple melodic lines structure
 
Kodo Millet PPT made by Ghanshyam bairwa college of Agriculture kumher bhara...
Kodo Millet  PPT made by Ghanshyam bairwa college of Agriculture kumher bhara...Kodo Millet  PPT made by Ghanshyam bairwa college of Agriculture kumher bhara...
Kodo Millet PPT made by Ghanshyam bairwa college of Agriculture kumher bhara...
 
How to Manage Global Discount in Odoo 17 POS
How to Manage Global Discount in Odoo 17 POSHow to Manage Global Discount in Odoo 17 POS
How to Manage Global Discount in Odoo 17 POS
 
How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17
 
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptxHMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
HMCS Max Bernays Pre-Deployment Brief (May 2024).pptx
 
Unit-V; Pricing (Pharma Marketing Management).pptx
Unit-V; Pricing (Pharma Marketing Management).pptxUnit-V; Pricing (Pharma Marketing Management).pptx
Unit-V; Pricing (Pharma Marketing Management).pptx
 
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptxBasic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
 
Food safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdfFood safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdf
 
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdfUGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
 
Vishram Singh - Textbook of Anatomy Upper Limb and Thorax.. Volume 1 (1).pdf
Vishram Singh - Textbook of Anatomy  Upper Limb and Thorax.. Volume 1 (1).pdfVishram Singh - Textbook of Anatomy  Upper Limb and Thorax.. Volume 1 (1).pdf
Vishram Singh - Textbook of Anatomy Upper Limb and Thorax.. Volume 1 (1).pdf
 
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
 
Spatium Project Simulation student brief
Spatium Project Simulation student briefSpatium Project Simulation student brief
Spatium Project Simulation student brief
 
Unit-IV; Professional Sales Representative (PSR).pptx
Unit-IV; Professional Sales Representative (PSR).pptxUnit-IV; Professional Sales Representative (PSR).pptx
Unit-IV; Professional Sales Representative (PSR).pptx
 
Introduction to Nonprofit Accounting: The Basics
Introduction to Nonprofit Accounting: The BasicsIntroduction to Nonprofit Accounting: The Basics
Introduction to Nonprofit Accounting: The Basics
 
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptxICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptx
 
FSB Advising Checklist - Orientation 2024
FSB Advising Checklist - Orientation 2024FSB Advising Checklist - Orientation 2024
FSB Advising Checklist - Orientation 2024
 

SUB LEASE-PPT.pptx

  • 1. SUB LEASE Dr. A. HELDA MARY Assistant Professor Department of B Com PA Sri Ramakrishna College of Arts and Science Coimbatore - 641 006 Tamil Nadu, India 1
  • 2. A sublease is the legal transfer of tenancy from an existing tenant to a third party for a specified period. The owner of the real estate must typically approve any subletting arrangement offered by the first tenant, subject to local laws and regulations.
  • 3. 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. Subleasing may or may not be permitted in the terms of the original lease, and may be subject to additional restrictions by jurisdiction. Even if a sublease is permitted, the original tenant is still liable for the obligations stated in the lease agreement, such as the payment of rent each month. A sublease is the legal transfer of tenancy from an existing tenant to a third party for a specified period.
  • 4. The owner of the real estate must typically approve any subletting arrangement offered by the first tenant, subject to local laws and regulations. If a tenant decides to sublease, they remain responsible for rent payments and other contractual obligations. A lease is a contract between a property owner and a tenant that transfers the owner’s rights to the exclusive possession and use of the real estate property to the tenant for an agreed-upon period. The lease states the length of time the contract is to run and the amount of the tenant’s rent. In legal terms, the tenant’s legal right to possess the property is deemed tenancy. Subleasing occurs when the tenant transfers a part of their legal tenancy to a third party as a new tenant.
  • 5. Subleasing can be established unless the original lease forbids it. However, in most cases, the owner must be notified and must approve any subletting arrangement created by the tenant. Control over the subletting process could be written into the original lease so that the owner has some control over who uses and/or occupies their property.
  • 6. A tenant who sublets property must understand that subleasing does not release them from their obligations on the original contracted lease. The tenant is responsible for paying rent and for repairs or damage to the property. That means that if a new subtenant does not pay rent for three months, the original tenant that subleased the property is liable to the landlord for the overdue rent amount and any late fees. In turn, the subtenant is liable to the original tenant for the unpaid rent.
  • 7. Subleasing and State Laws The laws of many states and local municipalities affect a tenant’s right to sublease. These laws may allow an individual to sublease under certain conditions even if their contract with the landlord forbids it. For example, in New York City, a tenant who lives in a building with four or more units has the right to sublease, as long as the landlord consents—or if they deny the sublet on unreasonable grounds, Any lease provision restricting a tenant’s right to sublease is void as a matter of public policy.1
  • 8. In San Francisco, a tenant can replace a roommate with another, even when prohibited by a written lease, as long as the replacement meets the landlord's application screening standards.2 For example, a landlord might demand a certain credit score where a tenant is concerned. Subleases can apply to both residential and commercial properties.