We've used our extensive experience to put together guides, forms and all the information you could possibly need. A sublease is an agreement where someone takes over part or all of an existing lease.This type of lease involves at least three parties. In this video I'm going to go over and define what a letter of intent or an LOI is and how to use it effectively. I signed a lease and allowed a mutual friend to store business equipment at my business storefront in lieu of paying. Subleasing a commercial property is typically allowed, but it is essential to check the terms of your lease agreement to ensure that it permits subleasing. Property Highlights. Floor Area, 1,000 - 2,650 m². How Does Subletting Work in Commercial Real Estate? Legal document Sublease Agreement on paper close up.