Underletting Terms and Licences
Some business Leases, particularly those with terms over 5 years, permit a tenant to underlet the premises subject to obtaining the Landlord’s consent. The Landlord’s consent is usually given in a formal Licence to Underlet.
Before a Landlord will give consent he will usually want to be satisfied that the proposed Undertenant will be able to pay the underlease rent and generally be a suitable occupier of the premises. However, it is harder for a Landlord to object to an underletting than an assignment because the Landlord will continue to receive rent from the Tenant during the term of the underlease.
In this folder we have Heads of Terms for Underleases and for Licences to Underlet, Letters for the Landlord to send to the Tenant and template Licences.
Landlords should refer to the Protocol for Applications for Consent to Assign or Sublet when dealing with an application for consent to underlet. The Protocol can be found at http://www.propertyprotocols.co.uk. Compliance with the Protocol is voluntary but the Protocol is widely supported in the commercial property sector. Our documents are designed to aid compliance with the Protocol.
Other documents may be needed during the term of a Lease. A wide variety of documents can be found in our Managing the Letting, Breaches of the Lease, Alterations and Assignments folders.
These Underlettings documents are part of the Property Documents Folder. Just £35.00 + VAT will provide you with 1 year's unlimited access to download all/any documents from the Property Folder.