A real office without a 5 year lease.
A direct office lease usually means committing for five years or more and paying to build the space out. A sublease lets you take over space someone else has already set up, for the time left on their lease.
What a sublease gives you.
- Shorter terms. You commit for what remains on the master lease, which is often far less than a new direct lease asks for.
- Often furnished. Desks, chairs, cabling and meeting rooms are frequently already in place.
- Often below direct rates. The tenant would rather recover some of its rent than leave the space empty.
- Faster move-in. The space is built out and has been in use, so there is less to do before day one.
A good fit for startups, satellite teams, professional practices, and companies between leases.
Sublease or direct lease.
| Sublease | Direct lease | |
|---|---|---|
| Term | What remains on the master lease | Usually five years or more |
| Build-out | Already set up, often furnished | You pay to build the space out |
| Private space | A private office of your own | Yes |
Newest subleases
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Questions.
How long can a sublease run?
As long as you and the subtenant agree, up to the end of the master lease. A sublease cannot run past that date, because the original tenant cannot grant rights to the space for longer than it holds them.
Is a sublease cheaper than a direct lease or coworking?
Often, though not always. A tenant with surplus space would usually rather recover part of its rent than none of it, so sublease rents are often set below comparable direct space. Compared with flexible and coworking space, a sublease gives you a private office of your own on a set term. The actual price depends on the space and the deal.