Sub-Letting & Assignment
An Assignment of lease is a transfer of the entire lease from an existing tenant to a new tenant.
With a Sub-lease the original or head-lease remains and the tenant grants a subordinate lease of
some or all of the leased space. In the case of assignment, it is important to clarify if the original
tenant will remain liable for any default by the new tenant. The process of obtaining the approval
of the lessor is typically subject to a number of conditions including demonstrating the financial
worthiness of the new tenant. For retail leases in Tasmania, this process is regulated by the
Fair Trading (Code of Practice for Retail Tenancies) Regulations as well as by the lease.
For such leases, it is mandatory for the tenant seeking to assign the lease or grant a sub-lease,
to supply a copy of the Landlord’s lease disclosure statement.
Leasepro has the knowledge and expertise to assist with lease assignments and sub-leases in
Hobart and Tasmania. We are available across the country for your convenience.
Call 1800 000 000 for our free lease helpline or find contact details for across Australia.