New York Sublease Agreement Template

Downloads: 486

The New York sublease agreement is a rental contract where the tenant acts as a sublandlord and re-rents the premises they occupy to a third party (known as the subtenant). Why may someone want to do this? Well, if the tenant needs to leave for whatever reason, then they can follow through with this option instead of having to break a lease (which could have detrimental consequences). Although, it is important to consider that the owner must approve of this before it can be executed.

Once the tenant has the green light, they should find a subtenant that they know will be dependable, as they are still held responsible for the terms of the original contract. Then, both parties must discuss how the sublet will ensue and what conditions will be transcribed into the form. Upon the fulfillment of all the required fields, each individual must then sign the doc as confirmation that they acknowledge the terms provided.