Thirty Key Provisions to Include in Your Sublease Agreements

Include the following provisions in all of your commercial sublease agreements:

1. Parties.

2. Agreement to sublease.

3. Legal description of the property.

4. Term of the sublease.

5. Holdover.

6. Sublease rental rate.

7. Security deposit.

8. Indemnification of lessor and sublessor.

9. Services and utilities.

10. Use of premises.

11. Signs.

12. Waste, nuisance, and illegal use.

13. Maintenance, repairs, and alterations.

14. Entry and inspection.

15. Damage or destruction by fire, war, or acts of God.

16. Condemnation.

17. Default by sublessee.

18. Termination and re-entry by sublessor on sublessee's default.

19. Default by lessor or sublessor.

20. No right to assign sublease agreement.

21. No subletting.

22. Surrender of premises and keys.

23. Disposition of fixtures and personal property upon expiration of sublease.

24. Removal of property by sublessor.

25. Sublessee's insolvency, bankruptcy receivership, or assignment for creditors.

26. Notices.

27. Applicable law.

28. Arbitration of disputes.

29. Legal costs.

30. Execution of the sublease agreement by sublessor and sublessee.

0 0

Post a comment