Iowa Commercial Sublease Agreement
Sublet all or part of your leased business space to a subtenant with this Iowa Commercial Sublease Agreement.
This Commercial Sublease allows an Iowa business tenant to sublet all or part of its leased business space to a subtenant. It is designed for various commercial purposes, including office, retail, and other business premises.
Payment Arrangements
Under this agreement, the subtenant is responsible for paying both the security deposit and rent directly to the original tenant. The original tenant then makes the payments to the landlord, ensuring that all financial obligations under the lease are met.
Tenant Responsibilities
The original tenant remains obligated to fulfill all terms and conditions outlined in the head lease throughout the duration of the lease term.
Assignment of Interest
The original tenant assigns its interest in the sublease to the landlord. This provision helps protect the landlord’s rights and interests in the leased premises.
Rent Payment in Case of Default
If the original tenant defaults on any obligations under the head lease, the subtenant may be directed to pay rent directly to the landlord. This ensures that the landlord continues to receive rent payments as stipulated in the lease agreement.
Format and Intended Use
This Commercial Sublease Agreement is available in Microsoft Word format and is intended solely for use within the State of Iowa.
Iowa Guaranty of Commercial Lease
- The guaranty is given by a principal of the company, such as a shareholder, partner, sole proprietor or some other person with a financial interest in the tenant.
- A guarantee of this type is typically required as an inducement to the lessor ⁄ landlord to sign the lease.
- The guarantor guarantees payment of all rent and other amounts due under the lease, including the payment of legal fees incurred by the landlord in enforcing the terms of the lease.
