Not every company knows how their space needs might change when they commit to leasing an office space for a number of years. Sometimes a company needs more space, less space, or their business plans change and they no longer need the space they’re committed to for several more years.

Subleasing your company’s space can make sense for a number of reasons, but it’s important to understand as a Tenant each step of the process and know what may be expected of you at each step of the way.

Why Sublease Your Office Space?

While there are a number of reasons we see tenants choose to sublease their space, here are a few reasons we see the most:

First, you may determine you need to downsize your office space. Whether you occupy multiple floors in a building or just a small suite within a larger project, you may find that you’re not maximizing your space. Subleasing a portion of your space, be it a full floor or portion an unused portion of your existing suite, can be a great way to mitigate your remaining rent obligation. While you’re still responsible for paying rent on the full space, a subtenant can help offset this cost by paying you rent for the space they occupy.

Another common reason for subleasing space is when a company outgrows its current space and needs to relocate to a new, larger space before its lease expires. In this case, subleasing can help you mitigate costs and avoid paying double rent for the remainder of your company’s remaining lease obligation.

Lastly, many high-growth companies lease more space than they need at the time they sign a new lease to accommodate for future growth. In this scenario if your company isn’t using all of their space, you could sublease the unused space to a Subtenant for an initial period of time until all of the space is needed.