18th Nov 2009 by JonB
A sublease is lease offered by somebody who are themselves leasing. Most leasing parties do not allow subletting, but some do. An example of a sublease would be if John was leasing apartment A from an agency. He decided to move, but instead of canceling his lease, he leases the apartment to somebody else who is accountable to him while he is still accountable to the original agency. Subletting can be useful especially if the value of the area has gone up since you signed your lease,meaning there is a potential for a net profit in the spread between your lease and the lease you offer someone else.
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