Updated June 03, 2022
A New York sublease agreement is a type of rental contract agreement in which an original tenant under a lease with a property owner rents space in that property to a new tenant. Tenants typically enact sublet arrangements in order to alleviate rental costs by sharing the residence or simply wish to move out before the master lease’s termination date. A sublease provides the new sub-tenant (sub-lessee) rights to inhabit the rented premises, thus adhering to the master lease and New York State law. Generally, the original tenant (sub-lessor) maintains the responsibility to pay all rental costs to the landlord and abide by all conditions set on the master lease. The sub-lessor simultaneously must collect the sub-lessee’s share of rent, utilities, and services in a timely fashion. Essentially, the sub-lessor shall act as a landlord in relation to the sub-lessee. All parties should carefully read the contract to ensure their understanding of their legal roles and duties.
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