A transfer of a portion of a leased premises is a sublease, not an assignment. Whether or not you can sublease a portion of the leased premises depends entirely on what it says in the lease agreement. Most commercial leases require the tenant to obtain the prior written consent of the landlord to any assignment or sublease. Failure to do so is a breach and can result in termination, eviction and a lawsuit to make the tenant pay the rent for the rest of the lease term.
One advantage of a sublease over an assignment is that under a sublease, the tenant still has the right to occupy the premises and cure any breach of the lease by the subtenant. For example, if the subtenant disappears, the tenant can resume using the space for a money-making purpose or sublease to a new subtenant. If the subtenant causes damage to the premises, the tenant can repair the damage and control the quality and cost of the repairs. Under as assignment, the tenant is still liable for the unpaid rent, but cannot re-occupy the premises, and the landlord performs the repairs, and does not care how much they cost, because he's going to get reimbursed by the tenant.
Please carefully read the lease. It's all in there.
Dana Sack
Answered on Oct 07th, 2016 at 9:28 AM