How to Sublease Office Space

If you are looking for commercial property, you may wish to sublease office space. Corporate restructuring and other business changes often leave behind desirable empty properties still under lease agreements. This leaves open a perfect opportunity to negotiate a sublease. Sometimes you can get good deals on space this way if you approach it properly.

How to Find a Sublease

Your local real estate listings may include subleases available. Some real estate agencies specialize in commercial leasing. They may know of subleases available in your target area. Also, if you know of empty office space, you can inquire into who owns the property. If there is a lease on it, you may request information of the lessor and attempt to contact them. It never hurts to ask.

Negotiating Your Sublease

You will want to do a little research on local rental values so that you can get a fair price for your sublease. Sometimes you can negotiate an amazing deal because the original lessor is in a difficult position if they are trying to get out of a lease. They are sometimes willing to pay a fee to get out of their agreement. You may have to negotiate with both the lessor and the property owner since the owner must either agree to the sublease through the original lease agreement and/or they may have to agree to it independently. You may wish to have an attorney negotiate your contract on your behalf to ensure you get the best possible deal and make sure your agreement is solid.

Reviewing the Lease and Sublease Contracts

When entering into a sublease, you need to review both the original lease and the sublease agreements. The provisions of the original lease will govern your sublease as will those of your agreement. You will want to make sure you understand the agreement and should look out for any hidden terms.

Some leases have provisions limiting or prohibiting subleases. If the original lease has such a provision, make sure you have agreement from the landlord that is approved by an attorney before agreeing to anything with the original lessor.

Getting Legal Advice

It is a good idea to have an attorney review any lease agreement before you sign. An attorney will make sure you understand the provisions of any agreement you sign. Most real estate contracts are pretty standard, so an attorney should be able to advise you as to whether your agreement has any provisions that might not be in your favor.