In New York State, it is legally permitted to lease the property you are renting to a subtenant. That said, it is highly advisable to document this procedure in the Sublease Agreement. In such circumstances, the initial tenant is still responsible for collecting monetary funds and delivering payment to the landlord in time. This paper is a type of lease agreement and created for both parties to feel safe in case any legal arguments occur upon the matter. It and contains all personal data of the persons involved in the contract, as well as a detailed description of the premises.
Some of these definitions will be mentioned in the lease:
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Use our form-building software to get the official template. To successfully complete the paper, follow the ultimate guide below:
1. Determine the Agreement
In the first part of the contract, it is necessary to establish that the sublessor and the sublessee agree upon sublet and take possession of the real property (the location of which is mentioned herein). Both parties must write down their full names.
2. Indicate the Term
Such an agreement is terminal. It is required to provide the date the sublease becomes effective, as well as the date of the contract expiration. It is not allowed under any circumstances for the sublessee to continue the occupancy after the lease expires without the initial tenant’s consent.
3. Establish the Monthly Payment
It is important to submit information about the amount of payment the sublessee should deliver every month. Also, clarify the period of time in a month (a week or more) within which the subtenant is required to pay the rent. It should be paid in US dollars. The accepted mode of payment needs to be indicated herein, as well.
4. Name the Utilities the Subtenant is Responsible for
In section three, provide information about the utilities you expect the sublessee to pay for every month. All utilities, rather than those mentioned herein, will be the sublessor’s responsibility.
5. Specify the Security Deposit Details
Once you have reviewed the information concerning the guests and subtenant’s liability for the damage to the premises, proceed to the Security Deposit section. The security deposit is necessary to protect the initial tenant (landlord) from any unwanted situations happening on the premises. The security may also be used in case there is a need to cover the damage caused to the place because of the sublessee’s neglect. Indicate the amount of the security deposit in US dollars and the date the sublessor pledges to return it after the withdrawal of the contract.
6. Complete the Move-in Checklist and Lead-Based Paint Info
If the sublessor and the sublessee provide the move-in checklist when the subtenant begins possessing the premises, check the corresponding box. If the place was built before 1987, the initial tenant would need to attach the Lead-Based Disclosure form.
7. Establish Smoking Policy
If, according to the contract, smoking is prohibited on the premises, check the corresponding box. If the sublessee is allowed to smoke in specific parts of the place, provide detailed information about it.
8. Ensure the Landlord’s Consent
It is required to get the landlord’s permission in order to legitimate the deal. They may allow subletting or express disagreement. The attitude should be established in this section.
9. Add Specific Terms and Conditions
If you have discussed any additional terms and conditions in advance, submit corresponding information herein.
10. Sign the Paper
Affix the signatures of all persons taking part in this legal agreement and write down the date when the lease becomes valid.