An office sublease agreement is a legal document that outlines the terms and conditions of leasing out a portion of the office space to another party. In some cases, a tenant may have excess space in their current leased office, and they may choose to sublease it to another party to offset some of the rent and other expenses. In this article, we`ll provide you with a sample office sublease agreement that you can customize to fit your particular needs.
Here is an office sublease agreement that covers everything you need to know:
Office Sublease Agreement
This office sublease agreement (the “Agreement”) made and entered into on __________________ (the “Effective Date”), by and between __________________ (the “Sublandlord”) and ________________________ (the “Subtenant”).
1. Premises.
The Sublandlord agrees to sublease to the Subtenant, and the Subtenant agrees to take from the Sublandlord, the office space located at ________________________ (the “Premises”), consisting of approximately ________________________ square feet.
2. Term.
The term of this sublease shall commence on __________________ (the “Commencement Date”), and shall end on __________________ (the “Expiration Date”).
3. Rent.
The Subtenant shall pay the Sublandlord ________________________ Dollars ($________________________) per month in rent, due on the __________________ of every month. The Subtenant shall also be responsible for any other expenses associated with the Premises, such as utilities and maintenance costs.
4. Deposit.
The Subtenant shall pay the Sublandlord a security deposit of ________________________ Dollars ($________________________) on or before the Commencement Date. The Sublandlord shall hold the security deposit as security for the performance by the Subtenant of all the terms and conditions of this Agreement.
5. Use of Premises.
The Subtenant shall use the Premises for ___________________________ only, and shall comply with all laws and regulations governing the use of the Premises.
6. Alterations.
The Subtenant shall not make any alterations to the Premises without the prior written consent of the Sublandlord.
7. Assignment and Subletting.
The Subtenant shall not assign this sublease or sublet the Premises, or any part thereof, without the prior written consent of the Sublandlord.
8. Termination.
This sublease may be terminated by either party upon __________________ days` written notice to the other party.
9. Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of __________________.
10. Entire Agreement.
This Agreement sets forth the entire agreement between the parties and supersedes all prior discussions and agreements between them. This Agreement may not be modified or amended except in writing signed by both parties.
11. Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
In conclusion, an office sublease agreement is a critical document to protect both the Sublandlord and the Subtenant. By using the above sample agreement, you can rest assured that you`re covered on all fronts when it comes to subleasing office spaces. Always consult with a legal professional before signing any legal document, including an office sublease agreement.
