Their relationship with the ownership of 261 Madison Avenue has been excellent during their time as a subtenant
, and the new lease will enable USI to continue on this path for the next several years.
And since your landlord has already sunk the money into its furniture and equipment, it is only trying to recapture a fraction of that cost from you, the subtenant
Your lease may specify that a subtenant
must meet certain criteria related to financial strength and reputation.
It goes without saying that landlords will want to establish the financial strength of the proposed subtenant
and the Louisa Jakeman tenant needs to provide this information.
Protect Landlord's Rights: A lease may require a landlord to be reasonable in accepting a subtenant
, but don't overlook other lease protections if that subtenant
is not desirable.
And in three of the seven there are subtenants
paying rentals that are above the annual base rent for the leases.
Like Anisa, Elecoco is currently a subtenant
that signed a new lease.
971 KOON Requires landlords to check state sex offender registry when leasing to a new tenant, subtenant
or adult occupant, and to notify tenants with children under age sixteen of any listing of such tenant, subtenant
or adult occupant as a level three sex offender; exempts landlord from any civil or criminal liability for damages for any discretionary decision to release relevant information pursuant to this section or for failing to release such information, unless it is shown the landlord acted with gross negligence or in bad faith.
In general, a subtenant
has no legal relationship with the landlord.
Icon International took over the space, found a subtenant
and with the rental income was able to furnish Lufthansa with advertising time and fuel in amounts that allowed Lufthansa to get the lease off its books.
Health Management Associates, formerly a subtenant
at the building, signed a seven years for 11,700 s/f on the 6th floor, more than tripling their square footage at the building.