Subletting Space for Beginners

Subletting space reserved for your office as a way to avoid loss of income

Subletting space is not a recommended venture for your business to undertake. However, it sometimes becomes necessary if you have to relocate in a hurry or realize you've rented more office space than you need.

Subletting space, for beginners, can be a complicated arrangement to figure out. Basically, your company rents the space from the building's owner and the holder of the sublease, in turn, rents from you. To make the process easier to understand and ensure you don't get ripped off, do the following before you sublet:

1. Learn more about the process of subletting and how it works.

2. Check out sample subleases so you know what language to use in your contracts.

3. Advertise to attract potential renters so you have a pool to choose from.

 

Do your research before subletting space

Subletting space is not something you want to jump into blindly. You should do as much research as possible beforehand so you know what you're getting in to. Sometimes it is better to try to buy out of your rental contract than to go through the hassle of subletting.
Try: Go to the Officetimes and read the article on subleasing to learn about the options available to you. Then go to Hanley Wood's Remodeling Magazine website to find information on how to sublet just a portion of your office if you plan to keep part of the area for your company's operations.

Learn to write a contract for subletting space

The best way to keep those subletting space from you from taking advantage of your company is to write up a firm and binding contract. It's important to use appropriate language to make sure this is the case.
Try: Go to Docstoc and download the free template to start typing up your own contract with a sublessor. For an example of a sublease clause in an office lease, see LeasingProfessional.com.  Any time you use templates, have a lawyer look over your finished product.

Start advertising that you are subletting space

You can't start subletting space until you have people interested in renting it from you. The only way to do that is to advertise. The best way to start is by spreading the word to business owners you already know. If that doesn't work, try promoting your space over the Web.
Try: Consider putting an ad up on Office2Share. It's targeted directly to the market you are trying to reach. Also check out BusinessNation, which offers a similar service.

 

• Check the terms of your lease before you consider subletting space. For beginners, your landlord does not have to allow it.

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