Sublease Renewal - 345 Montgomery Street preview apply online. Subleasing is when your tenant allows another person(s), not on the original signed lease, to live in your rental property and cover the monthly rent payment.A sublease exists where the tenant leases all or part of the premises to another person for a period less than their lease term. To protect yourself, check your lease, talk to your landlord and get a sublet agreement in writing. You must first obtain a rental facility license from DHCA, Licensing and Registration. Learn more on our Licensing Page. Montgomery County's Moderately Priced Dwelling Unit (MPDU) Program offers affordable rental MPDU units in apartment communities located throughout the County. Subletting is when thirdparty rents or "subleases" the property from the original tenant. Subletting is a real estate arrangement where a tenant leases their rental property or part of it to another individual, known as a subtenant. Sublease Agreement Essentials in New York.