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In the Spotlight: Subtenants Should Arrange for Parking Spaces
Subtenants that sublease space in buildings where parking is made available by the prime landlord for an additional charge should make the proper arrangements with the prime landlord prior to the execution of the sublease in order to ensure that such parking is available as of the commencement of the sublease and will remain available during the term of the sublease. Most office leases that offer parking on a pay-as-you-go basis provide that the tenant loses its right to such spaces if the tenant either vacates the space and/or ceases to pay for such spaces. Office tenants seeking to trim expenses will sometimes vacate their premises and forego their monthly parking privileges and the fees for such privileges. This may automatically terminate the tenant's rights to such spaces or provide the landlord with an opportunity to recapture such spaces and/or reallocate the spaces to other users. An unwary subtenant stepping into this situation may unwittingly execute a sublease with the vacating tenant which provides that the subtenant succeeds to whatever interest the sublandlord has to appurtenant parking. Unfortunately, this may result in the subtenant's receiving no such parking rights because the sublandlord has waived its rights by its conduct. A prudent subtenant will do its homework prior to the execution of the sublease.
To be certain, a subtenant should require a written representation from the sublandlord and, preferably, from the prime landlord as well, that the parking rights appurtenant to the subleased premises will be available to the subtenant upon terms and conditions that are acceptable to the subtenant. This request may result in the prime landlord's requirement that any unpaid parking charges as of the sublease commencement date be made current. The subtenant will obviously seek to have any such back charges be borne by the sublandlord.
William Crowe
Subtenants that sublease space in buildings where parking is made available by the prime landlord for an additional charge should make the proper arrangements with the prime landlord prior to the execution of the sublease in order to ensure that such parking is available as of the commencement of the sublease and will remain available during the term of the sublease. Most office leases that offer parking on a pay-as-you-go basis provide that the tenant loses its right to such spaces if the tenant either vacates the space and/or ceases to pay for such spaces. Office tenants seeking to trim expenses will sometimes vacate their premises and forego their monthly parking privileges and the fees for such privileges. This may automatically terminate the tenant's rights to such spaces or provide the landlord with an opportunity to recapture such spaces and/or reallocate the spaces to other users. An unwary subtenant stepping into this situation may unwittingly execute a sublease with the vacating tenant which provides that the subtenant succeeds to whatever interest the sublandlord has to appurtenant parking. Unfortunately, this may result in the subtenant's receiving no such parking rights because the sublandlord has waived its rights by its conduct. A prudent subtenant will do its homework prior to the execution of the sublease.
To be certain, a subtenant should require a written representation from the sublandlord and, preferably, from the prime landlord as well, that the parking rights appurtenant to the subleased premises will be available to the subtenant upon terms and conditions that are acceptable to the subtenant. This request may result in the prime landlord's requirement that any unpaid parking charges as of the sublease commencement date be made current. The subtenant will obviously seek to have any such back charges be borne by the sublandlord.
William Crowe
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