Document background
The Commercial Sublease Agreement is essential in situations where an existing commercial tenant wishes to transfer their leasehold rights to another party while maintaining their relationship with the original landlord. This document is particularly relevant in Pakistan's growing commercial real estate market, where businesses frequently need to optimize their space utilization or manage property costs. The agreement must comply with Pakistan's legal framework, including the Transfer of Property Act 1882, Contract Act 1872, and provincial rent control laws. It typically includes detailed provisions about the premises, term, rent, permitted use, maintenance obligations, and the relationship between all parties involved. The document ensures that the subtenant's rights and obligations are clearly defined while preserving the original tenant's responsibilities under the master lease. This type of agreement is commonly used in commercial districts of major Pakistani cities like Karachi, Lahore, and Islamabad, where commercial property dynamics require flexible leasing arrangements.
