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Is Sub-leasing an Option in 2022?

In light of the COVID-19 pandemic, businesses of all sizes are rethinking how and where they conduct their operations in Australia.

The adoption of flexible and remote work arrangements, which is expected to decentralise business centres and reduce the need for floor space in the medium term, is one shift (and a continuing issue for landlord and tenant businesses). Landlords and tenants alike are concerned about increased vacancy rates and the possibility that they may no longer need (or be able to pay) all their rented space.

There has never been a better time to re-evaluate your lease agreement, given the ongoing market upheaval and the elimination of rent relief and other government stimulus efforts. Whether the purpose is pandemic-related or not, there are often efficiency, financial, or operational benefits to doing so.

One option to consider is subleasing.

Ivan Orola and Chris Cullen from Hopgood & Ganim Lawyers in their blog post Subleasing – part one – key considerations for tenants provide an excellent overview of what subleasing is, the benefits to tenants, landlords and sublessees and what you need to consider as a tenant before choosing this option. 

Remember before considering any new options, seek legal advice to ensure your intended purpose is achieved.