Sublease
National Real Estate Exam glossary · Leasing/Management
Definition
A transfer by a tenant of less than the tenant's entire remaining leasehold interest to a subtenant. The original tenant remains primarily liable to the landlord, distinguishing a sublease from an assignment, which transfers the entire remaining term.
Sublease in plain English
A sublease is when a renter rents out part of their remaining rental time to someone else, while still staying on the hook to the landlord. Picture you rented a locker for the whole year, then let a friend use it for a couple of months — you collect from your friend, but if anything goes wrong the school still holds YOU responsible, not them. That last part is the key difference: in a sublease you keep the original lease and stay liable, whereas an assignment hands over your entire remaining lease so you fully step out. So subleasing means passing along less than all your time and keeping your name in the deal.
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