Used by a tenant to transfer his or her letting obligations to a third party for the remainder of the lease term. The new tenant occupies on the terms of the master lease, but the original tenant is still responsible for ensuring rent is paid and there is no damage to the property
A Commercial Sublease Agreement is a legal document that allows a tenant to transfer all or part of their existing commercial lease to another person, known as the subtenant or sublessee, for a specific period.
A Commercial Lease involves renting a property for business purposes such as offices, shops, warehouses, or other commercial spaces. Usually, the tenant signs a lease with the landlord (the property owner) and pays rent directly to them. Through a sublease, the tenant can rent out part or all of their leased space to another party, who in turn pays rent to the tenant.
Important: A tenant can only sublet their space if the original lease agreement allows it or if the landlord provides written consent. In a sublease, the tenant remains responsible for paying rent to the landlord and ensuring that the subtenant follows the terms of the original lease.
Types of Commercial Subleases
Entire Property
The tenant moves out completely and allows the subtenant full use of the property. The subtenant pays rent to the tenant.
Part of the Property
The tenant rents out only a portion of the space while continuing to use the rest. For example, if a tenant occupies two office units, they may sublet one unit and keep the other for their own business.
Note: This document applies only to commercial properties. To sublet a residential space (such as a flat or apartment), use a Residential Sublease Agreement instead.
How to Use This Document
This agreement should include the following key information:
- Tenant's details: Full name and address
- Subtenant's details: Full name and address
- Description of the property: The area or space being sublet
- Rent details: Amount payable, payment schedule, and any required deposit
Once the document is completed:
- Both the tenant and subtenant must sign it.
- If either party is a company, a director (or one director and one secretary) must sign on the company's behalf.
- If either party is a sole proprietorship or partnership, an authorized officer should sign, and a witness must also sign, including their name, address, occupation, and signature.
- Each party should keep a signed copy for their records.
Applicable Laws
In Lagos State, the Tenancy Law of Lagos (2011) governs all rental and sublease arrangements. In other Nigerian states, the respective state tenancy laws apply to commercial leases and subleases.
From Template to Completed Document
You can easily fill out a form to generate the agreement. Once completed, you can edit and download the draft or proceed to sign it via our E-signature tool with your record securely stored on DocuProp for future management.
