Document background
A Sublet Addendum is essential when an existing tenant wishes to rent out all or part of their leased property to another party in Nigeria. This document is used to supplement the original lease agreement and requires careful consideration of Nigerian federal and state-specific property laws. The Sublet Addendum outlines crucial details such as the parties involved, duration of the sublease, rent amount, payment terms, and respective responsibilities of all parties. It serves as a protective mechanism for landlords, original tenants, and subtenants by clearly defining rights, obligations, and limitations of the subletting arrangement. This document is particularly important in Nigerian real estate transactions as it helps ensure compliance with local property laws while providing a clear framework for the subletting relationship. The addendum should be drafted in accordance with the Rent Control and Recovery of Residential Premises Act and any applicable state-specific legislation.
