Before you start looking for subtenants, you want to make sure you’re legally capable of subleasing the space you’re currently occupying. favorite this post Jan 11 Salon Studios, Bellevue and Kirkland. Most commercial lease agreements prohibit subleases outright, but those that allow subleasing require approval from the landlord before ink sets to paper. But breaking lease agreements can be expensive and complicated, making it more attractive for tenants to seek a subtenant to offset termination costs and provide financial flexibility when seeking a larger space. With sublets, the responsibility for monthly payments remains with the original tenant, making them ultimately responsible for the subtenant’s contributions. Many businesses sharing workspaces will end up working with the teams that they sublet to, sharing knowledge, services and experience. Depending on the nature of your lease agreement, you may be on the hook for any overages in utility costs incurred by the subtenant. Within the terms of your contract, there is no right to end a lease or stop paying rent apart from the pre-agreed break clauses. There is also a group room, Children’s Therapy room, a kitchen and two restrooms. Do office space costs represent a big part of your fixed costs? One way is to contact existing practitioners in your area and sublet space. $100-$200 monthly (flexible weekdays, evenings and weekend hours available). Furthermore, certain lease agreements can prohibit you from subletting to companies or entities that have lower credit scores than yours, restricting you from subletting to a wide array of potential suitors. Contact Dori Rhodes at dorirhodes5@gmail.com. Because your subtenant will be paying rent to you and not to the landlord, you’ll still be liable for the total amount of the monthly lease – no matter who’s actually paying the bill. The primary benefit of subletting is the untapped financial stream for your business. The list of criteria to consider is just a bit different. Depending on the terms of your lease agreement, you may only be able to lease a specific part of the building, space, or section of your office with the landlord’s approval. In commercial real estate, the landlord is almost always aware that the tenant is subletting the space to a subtenant. While it’s important to consider potential growth when entering into a commercial real estate lease, it’s also possible that your company could wind up paying for space that it doesn’t ultimately need at the time. Subletting has been a recognised strategy for businesses looking to generate extra income via their workspace for some time—and we anticipate that the far-reaching effects of the COVID-19 situation will make it even more commonplace. We invite culturally responsive psychotherapists to sub-lease in our fully furnished, private counseling space. Subletting has been a recognised strategy for businesses looking to generate extra income via their workspace for some time—and we anticipate that the far-reaching effects of the COVID-19 situation will make it even more commonplace. If you wish to contact us: 3-9, Olu Koleosho Str, Off Medical Road, Ikeja, Lagos; info@officesublet.ng; 09032275411, 08056868257 Once you’ve covered all your bases and consulted with both your landlord and your real estate attorney, it’s time to sign the agreement and finalize plans for your company to relocate and bring in a subtenant under your original lease agreement. You save money on space you no longer need, the subtenant finds a suitable environment for near or below market value, and the landlord keeps collecting the monthly payment. Furthermore, determining costs and breakdowns of utility contributions is essential at the outset of a sublease agreement. Therapists are practicing over the phone, doing walk and talk therapy, doing virtual therapy, and subletting office space by the hour. Search thousands of office, retail, and industrial spaces. Walk to Lexington center. How to Sublet an Office Space Step 1: Check the Terms of Your Lease Agreement. looking to sublet furnished office space in Mooresville, In. Counseling Office Sublet (McAllen) Furnished Counseling Office in corner of Dove Avenue and North 10th Street in McAllen TX for therapist looking to sublet/sublease office space. This is the most ideal situation in which to sublet office space. Renting an office space can feel overwhelming, if not terrifying. Whether you need a space for a one time workshop, are looking to hold an ongoing weekly group, or launching an East Bay practice and need an office to establish a beachhead, Living Arts Counseling Center has five fully equipped group and individual therapy rooms available for sublet at affordable rates. Landlords tend to prefer these types of agreements due to that factor. 1. But if extensive renovations or upgrades are required, you’ll want to spell out who bears the costs of those improvements and who will be responsible for any stipulations in the original lease agreement should the landlord require you to restore the property to its initial condition. Office Space for Austin Therapists, Part Time. When a company enters into a long-term lease agreement, there’s a certain amount of risk involved. So, if your business has (or will have) excess workspace, don’t let it sit there redundant—rent it to others and you could unlock a new revenue stream. If you sublet more space than you are allowed to, the landlord usually has a “right of recapture” to take back your unused space and lease it out directly. Rather than paying a termination fee, which can sometimes involve a significant portion of the remaining rent obligation plus forfeiture of the security deposit, some lease agreements allow for subleasing of a commercial real estate space to offset costs and avoid penalty charges. Whilst we’ll take the weight off your shoulders when it comes to managing the process, it can still take some time—and in the current climate this could be lengthened further. These can include utility costs, amenities, branding or signage, furnishings, and specialty upgrades. It’s also completely free to list your space via HubbleHQ, and we only take commission if your space is let—making it a no win-no fee scenario, and completely risk-free for such uncertain times. If your subtenant is in the same (or similar) industry as yours, you may have an easier time transitioning the property to their specifications. Beautiful, spacious, sunny psychotherapy office in The Healing Center close to the Cambridge line in Arlington. Whether the landlord exercises the right depends on the commercial realty market. There are two time frames to select from: Full Day 1: 8am-2pm or Full Day 2: 2pm – 8pm Please contact her for more information at 410.370.6764. Seattle, WA 98109. Make sure that your lease does not prohibit you from subletting.If it does, and you still want to generate extra income, your lease may allow (or at least be silent on) the matter of hiring an employee part-time. Before you start looking for subtenants, you want to make sure you’re legally capable of subleasing the space you’re currently occupying. There are several reasons for businesses to sublease an office space, but most have to do with financial implications. 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