Subleases are common in both commercial and residential properties. When a tenant places a rental contract on a property with a third party for the term of the present renter's lease contract, it is known as a sublease.
There are possible reasons why tenants choose sublease rather than purchasing their own space. Subleased space may be the only opportunity for certain tenants to get into their desired space for their property. Tenants are sometimes drawn to sub-tenancy because it allows them to get space at a lower cost. Other tenants may use a sublease area for both of these purposes.
As a corporation that promotes progressive infrastructure developments, Berthaphil, Inc. expands its services to subleasing spaces to accommodate the growing demand for various businesses, commercial centers, and residential communities that are strategically located across Clark areas.
Once a valid sublease is in place, the sublessee is granted exclusive possession of all or part of the property, i.e., the right to exclude others (including the tenant) from the sublease area. So, here are the things you should know before seeking a sublease opportunity:
Quickly Transfer Partial Rights
When renting a space directly from the owner, it requires a lot of negotiation because of the terms of the agreement and payments that need to be processed. With sublease, the transfer of partial rights can be done with ease.
Subleasing can prevent the sublessee from being compromised with lease and will help save money. When entering into a sublease, the sublessor, or the tenant that rents a space from the owner of the property, all the negotiations that are required by the negotiators are already done. Berthaphil, Inc. as the sublessor, assures that it will close the sublease deal, be completed quickly, and will get the necessary approval from the primary landlord.
Financial obligation of sublessee
Although subleasing is one means for tenants to relieve financial pressure on their businesses, they cannot simply ignore their financial commitments under the head lease. In addition to the tenant's payment and other duties under the head lease continuing, landlords usually ask the tenant to agree to stay accountable for all payments due under the lease. As a result, selecting a sublessee with the financial means to carry out the sublease is critical. With regard to the terms and conditions regarding the financial obligations, Berthaphil, Inc. can help its prospective clients craft terms and conditions related to financial obligations that can also be advantageous to the sublessee. The company will work hand in hand with its sublessee to deliver quality service.
Check your lease agreement
Before subleasing a space, make sure that the sublessor has a clear arrangement with the landlord and will not put the sublessee at a disadvantage. As a sublessee, it is important to clearly discuss terms and conditions with the sublessor. Here’s what you need to check in the agreement:
*Take note that the sublessee's part of the property, its condition, and the purposes for which it may be used should all be explicitly defined in the contract.
*It should state whether the property is being subleased in its present situation or with the tenant's renovations.
*The contract should specify the start and end dates of the lease, as well as the amount of rent due.
*The contract should indicate which utilities should be included in the rent and which ones are the obligations of the subtenant.
Berthaphil, Inc. will be openly discussing these terms with its prospective clients since the company values its clients' concerns being addressed and resolved.
Consider the area being subleased
The reason for commercial and residential properties to enter into a sublease agreement is to earn a profit. It is necessary to study if the location to be subleased can generate income for the business. If the space leased will only be used as a warehouse or office extension, for instance, consider its practicality in the operation of the business. The subleased area of Berthaphil, Inc. is situated in a strategic area that is both beneficial whether the area will be used for commercial or residential properties or just a simple space for the extension of certain business operations.
When looking for a space for business operations, subleasing is an excellent option to reduce monthly rent payments and cater to other business operations with ease. Berthaphil, Inc. is prepared and capable in delivering a quality service to its locators who are seeking for subleased properties. Vacant spaces with state of the art facilities and amenities are still open for reservations. Contact us now to reserve yours!