Sublease Of Property Definition In Utah
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FAQ
A lease is a rental contract between a landlord and a tenant, whereas a sublease is a contract between a tenant and a sub-tenant who has assumed obligations of the tenant's lease.
In a sublease, there are three parties: the landlord, the original tenant (sublessor), and a new tenant (sublessee). The original tenant remains responsible to the landlord, while the sublessee pays rent to the sublessor and occupies the property under the terms agreed upon in the sublease.
The terms sublet and sublease are often used synonymously, but they have very different meanings. The gist is that a sublet occurs when you find a new renter for the property who will sign a new lease with the landlord, while a sublease occupies the space without signing a lease directly with the landlord.
A sublease is the re-renting of property by an existing tenant to a new third party for a portion of the tenant's existing lease contract.
The Bottom Line: Utah laws do not explicitly permit nor prohibit sublets, so you must follow the terms of your lease. If your lease prohibits sublets, then sadly, you aren't allowed to sublet. You should always obtain written approval from your landlord prior to subletting. Check your lease.
Subletting Can Impact Property Values Parking becomes difficult, there are higher utility costs, and the neighborhood won't be as appealing to prospective buyers.
Cons of Subleasing Subleasing can get legally tricky. Many lease agreements have strict rules about subletting, often requiring landlord approval. Be sure to look over your lease agreement and have a conversation with your landlord or property manager to avoid disputes and penalties.
The reason Landlords will not allow their tenants to sublet is because, by subletting you are altering the terms of the insurance policy the insurer accepted when they offered the landlord an insurance premium for coverage.
