noun a lease of a property by a tenant to a subtenant
verb to lease a property from a tenant who is already leasing it
In the real estate field, 'sublease' refers to the act of a tenant leasing out a property they are currently leasing from a landlord to another party. This can be done for various reasons such as needing to move out before the lease term ends.
In the business world, 'sublease' can be relevant when a company decides to sublease a portion of their office space to another business to reduce costs or utilize excess space more efficiently.
In legal contexts, 'sublease' is used to describe the legal agreement between the original tenant and the subtenant, outlining the terms and conditions of the sublease arrangement.
A writer may sublease their office space if they are not using it regularly or if they need to temporarily work from a different location.
A psychologist may sublease a portion of their office to another mental health professional if they have excess space or want to share resources.
A real estate agent may help clients find sublease opportunities for commercial or residential properties as part of their services.
A business owner may sublease part of their office or warehouse space to another company to offset costs or utilize space more efficiently.