A Sublease Agreement is essential when a tenant wishes to transfer their leasing rights to another party while maintaining the original lease agreement. This document is commonly used in Austria for both residential and commercial properties, requiring careful consideration of the Austrian Civil Code (ABGB) and Tenancy Act (MRG). The agreement must detail the specific terms of the sublease while ensuring compliance with the master lease and local regulations. It's particularly relevant in situations such as temporary relocations, business expansions, or when tenants need to optimize their leased space usage. The document typically includes comprehensive information about the property, parties involved, financial terms, duration, and respective rights and obligations, while incorporating necessary provisions to protect all parties' interests under Austrian law.
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1. Parties: Identification of the main tenant (sublessor) and subtenant (sublessee), including full legal names, addresses, and registration numbers if applicable
2. Background: Context of the sublease, including reference to the master lease and confirmation of the main tenant's authority to sublease
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Master Lease', 'Term', and other relevant definitions
4. Property Description: Detailed description of the subleased property, including address, size, and included fixtures/fittings
5. Term and Commencement: Duration of the sublease, start date, and end date, ensuring compliance with master lease term
6. Rent and Payment Terms: Amount of rent, payment schedule, method of payment, and any rent review mechanisms
7. Utilities and Operating Costs: Allocation of responsibility for utilities, operating costs, and other charges
8. Security Deposit: Amount, payment terms, and conditions for return of the security deposit
9. Use of Property: Permitted use of the property and any restrictions
10. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements
11. Insurance: Required insurance coverage and responsibilities
12. Termination: Grounds for termination, notice requirements, and consequences of termination
13. Governing Law: Confirmation of Austrian law application and jurisdiction
1. Subletting and Assignment: Include when further subletting might be considered or needs to be explicitly prohibited
2. Alterations: Include when the subtenant may need to make changes to the property
3. Parking: Include when parking spaces are part of the sublease
4. Common Areas: Include for properties with shared facilities or common areas
5. Building Rules: Include when the property is part of a larger building complex
6. Commercial Use Provisions: Include for commercial subleases
7. Break Clause: Include when early termination options are to be provided
8. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
1. Schedule 1 - Property Floor Plan: Detailed floor plan showing the subleased area
2. Schedule 2 - Inventory List: Detailed list of furniture, fixtures, and equipment included in the sublease
3. Schedule 3 - Condition Report: Documentation of the property's condition at the start of the sublease
4. Schedule 4 - Copy of Master Lease: Attached copy of the relevant portions of the master lease
5. Schedule 5 - House Rules: Building or property rules and regulations
6. Schedule 6 - Utilities Reading: Initial meter readings for utilities
7. Appendix A - Handover Protocol: Template for recording the handover of the property
8. Appendix B - Registration Forms: Required registration forms for local authorities
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Retail
Office Space
Industrial
Hospitality
Education
Healthcare
Professional Services
Relevant Teams
Legal
Real Estate
Facilities Management
Operations
Administration
Compliance
Property Management
Asset Management
Corporate Services
Risk Management
Relevant Roles
Real Estate Manager
Property Manager
Facility Manager
Legal Counsel
Corporate Real Estate Director
Operations Manager
Commercial Lease Administrator
Real Estate Agent
Housing Coordinator
Business Development Manager
Office Manager
Compliance Officer
Real Estate Paralegal
Asset Manager
Tenant Relations Manager
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