If you are a landlord and thinking to allow your office to rent then you should be very clear about what to allow and what not in the lease. Below are some of the guidelines which will help you in deciding about an office for sale singapore or leasing the office in Singapore.
Sublease
Subleasing means when the tenants are renting out their current rented office to another tenant. It depends on how subleases are created. The subtenant could pay a portion of rent or all. The same could also be applied with liability.
When the liability is remaining to the original tenants then they are responsible if the tenant damages the unit stops paying rent or breaches the agreement of lease.
These factors will impact the rent control, ability to sublease, and the rent charging to the subtenant. It will also vary from location and property. There is a renter who is not allowed to sublease the section.
Types of Sublease
Mostly two types of the sublease are present:
Short-Term
Tenants are planning to return to the rental after a temporary absence, overseas work assignment, or medical issue with family. In this, the new subtenant will be able to sublease the property as long as necessary.
Permanent
When the tenant is moving permanently and finding the renter for subleasing the unit with less remainder. This will be considered as the new primary tenant and this is known as the assignment or assign lease. But this cannot be done without the consent of the landlord.
When the subletting tenant is not allowing direct contact with the landlord then usually you have to pay the rent to the original tenant. You will also deal with the subtenant issues or complaints and also request any repairs from the landlord.
Pros and Cons for Landlords
Pros
- The tenant will find the subletter
- No vacancy: when the tenant is moving away in mid-lease and breaking the lease. When you are allowing the sublease means you can avoid rental vacancy.
- The tenant is responsible for the subtenant
Cons
- Not reliable subtenant
- Lease violations
- Inconsistent screening procedures
- Damage to property
