Residential Sublease Agreement

The Master/Original Lease is the Lease that the Sublandlord (the original tenant) entered into with the Landlord. The Subtenant's interest in the propery cannot exceed the interest created by the original Lease.

Yes, the Subtenant is entitled to a copy of the Master Lease. The Sublandlord can include a copy of the Master Lease with the Sublease agreement, or can deliver a copy directly to the Subtenant.

Automatic Renewal means that the Lease continues indefinitely on the agreed upon interval (weekly, monthly, or yearly) until either the Subtenant or the Sublandlord gives notice to the other party that they will be terminating the Sublease Agreement.

Yes, you can sublease a part or all of the leased premises to the Subtenant.

A damage deposit is a sum of money paid by the Subtenant to the Sublandlord to guarantee that the Subtenant will not damage the property. The Sublandlord holds the damage deposit for the term of the Sublease Agreement to ensure that the Subtenant does not default on the terms of the Sublease Agreement or otherwise damage the property.

Should the Subtenant damage the property (normal "wear and tear" excluded), the Sublandlord is entitled to recover the debt from the damage deposit. Usually the Subtenant must provide the Sublandlord with the damage deposit at the start of the Sublease Agreement. At the end of the Sublease Agreement term, the Subtenant will receive the deposit back minus any deductions for repairs/restoration.

Damage deposits are usually equivalent to the value of one month's rent. The maximum amount is usually governed by the legislation in each jurisdiction.

It is strongly recommended that the property be insured. However, the Subtenant does not need to have his or her own insurance if the Sublandlord has obtained sufficient insurance to cover the Subtenant.