A Los Angeles California Sublease Agreement for Commercial Property is a legally binding contract between the primary tenant (sublessor) and a new tenant (sublessee) who wishes to rent a portion or the entire commercial property from the sublessor. This agreement allows the sublessee to take over the remaining lease term from the sublessor, typically for a shorter duration than the original lease term. There are various types of Los Angeles California Sublease Agreements for Commercial Property, including: 1. Gross Sublease Agreement: A gross sublease agreement involves the sublessee paying a fixed rental amount to the sublessor, inclusive of utilities, maintenance, and other expenses. The sublessee does not have to directly deal with the landlord or pay separate bills. 2. Percentage Sublease Agreement: In a percentage sublease agreement, the sublessee pays a percentage of their total sales or revenue to the sublessor as rent. This type of agreement is commonly used in retail businesses or restaurants. 3. Fixed Rent Sublease Agreement: A fixed rent sublease agreement involves the sublessee paying a set rental amount to the sublessor each month, regardless of their business's success or failure. This type of agreement provides stability for both parties. 4. Modified Gross Sublease Agreement: A modified gross sublease agreement is a combination of gross and net lease agreements. The sublessee pays a fixed rent amount, which includes some operating expenses, while the remaining expenses are shared between the sublessor and sublessee. 5. Master Lease Sublease Agreement: In a master lease sublease agreement, the sublessor rents the entire commercial property from the landlord and then subleases portions of it to multiple sublessees. This type of agreement allows flexibility for the sublessor to manage and earn profits from multiple subleases. It is essential for both the sublessor and sublessee to carefully review and understand the terms and conditions stated in the Los Angeles California Sublease Agreement for Commercial Property before signing. The agreement typically covers important aspects such as rental price, lease term, permitted use of the property, maintenance responsibilities, sublessee's obligations, and any additional terms agreed upon by both parties. Seeking legal advice is advisable to ensure compliance with local laws and protection of the rights and interests of both parties involved in the sublease agreement.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.