A party that leases all or a portion of a commercial space from the existing tenant (sublandlord) rather than directly from the property owner, under a sublease agreement.
Subtenants occupy a more precarious legal position than direct tenants because their rights depend on both the sublease and the master lease remaining in effect. If the master tenant defaults and loses its lease, the subtenant's right to occupy can be extinguished unless a non-disturbance agreement with the master landlord is in place. Subtenants typically pay a below-market rent (often the master tenant's existing lease rate) and inherit the space in its current condition. Key subtenant protections include: master landlord consent and recognition agreements, SNDA rights, and clear sublease term and rent provisions. A sublease abstract must capture both the sublease terms and the material master lease provisions that govern the subtenant's rights.
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