A commercial sublease contract is a kind of a contract which is made in the case when a lessee of a commercial property puts the property on for a sublease to a sublessee. In this case the lessee becomes the sublessor. A commercial sublease contract is made to legally lay down the conditions on which the contract shall be dependent.
Thus any such contract is legally binding in nature for the involved parties. Given below is a sample of a commercial sublease contract that can be used for reference purpose by any person looking for help.
Sample commercial sublease contract:
This contract has been made effective on commencement date 12th Oct 2012 and shall be into effect for 12 months
Termination date of contract: 12th Oct 2013
The details of the involved parties are:
Name: Mr. Kell Mathews
Address: S-w/9, first floor, Henry enclave, Toronto, Canada
Mobiles number: 4030489735
Name: Mr. Fred Reynolds
Residential address: A-78, 8th floor, H tower, Toronto, Canada
Contact number: 4093984739
Details of commercial property that has been put for sublease:
Address of property: 2-j, Markson tower, Toronto, Canada
Amount to be paid to the SUBLESSOR per month: $1000
Use: commercial only
TERMS AND CONDITIONS:
- The SUBLESSOR agrees to put the leased commercial office space up for sublease to the SUBLESSEE for a period of 12 months.
- The SUBLESSEE agrees to pay the lease amount or rent to the SUBLESSOR within the first three days of each month.
- If the SUBLESSEE fails to make the payment on time, then he shall be fined $40 per day.
- The SUBLESSEE must only use the property for commercial purpose and not for any other use.
- The SUBLESSEE must take care of the maintenance, service and repair of the property by himself.