The Short Term Sublease Agreement is a vital legal instrument used in Nigerian property transactions when an existing tenant wishes to temporarily transfer their leasehold rights to another party. This document is particularly relevant in dynamic market conditions where flexibility in property arrangements is needed, such as temporary relocations, business expansions, or short-term space solutions. The agreement must comply with Nigerian property laws, including the Recovery of Premises Act and relevant state-specific legislation, while also respecting the terms of the head lease. It typically includes detailed provisions for rent payment, property maintenance, utilities, and the specific obligations of all parties involved. This document is essential for protecting the interests of both the sublessor and sublessee while maintaining transparency with the head landlord.
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1. Parties: Identifies and provides full details of the sublessor and sublessee
2. Background: Explains the context of the sublease, including reference to the head lease
3. Definitions: Defines key terms used throughout the agreement
4. Grant of Sublease: Formal statement of the sublease grant and its term
5. Rent and Payment Terms: Specifies rent amount, payment schedule, and payment methods
6. Security Deposit: Details of security deposit amount, terms, and conditions for return
7. Permitted Use: Specifies allowed uses of the property under the sublease
8. Maintenance and Repairs: Outlines responsibilities for property maintenance and repairs
9. Utilities and Services: Specifies responsibility for utility payments and services
10. Sublessee Obligations: Lists key obligations and responsibilities of the sublessee
11. Sublessor Obligations: Lists key obligations and responsibilities of the sublessor
12. Head Lease Compliance: Requires compliance with head lease terms and conditions
13. Insurance: Specifies required insurance coverage and responsibilities
14. Termination: Details circumstances and procedures for ending the sublease
15. Governing Law: Specifies Nigerian law as governing law and jurisdiction
1. Alterations and Improvements: Include when sublessee is permitted to make changes to the property
2. Assignment and Further Subletting: Include if further subletting or assignment rights are granted
3. Break Clause: Include if early termination options are available to either party
4. Parking: Include if parking spaces are part of the sublease
5. Common Areas: Include for properties with shared facilities or common areas
6. Furniture and Fixtures: Include if the property is being sublet furnished
7. Pet Policy: Include if pets are allowed or prohibited in the property
1. Schedule 1 - Property Description: Detailed description of the subleased property including floor plans and boundaries
2. Schedule 2 - Head Lease: Copy or relevant excerpts of the head lease agreement
3. Schedule 3 - Inventory: List of furniture, fixtures, and equipment included in the sublease if furnished
4. Schedule 4 - Condition Report: Detailed report of property condition at commencement of sublease
5. Schedule 5 - House Rules: Building or complex rules and regulations if applicable
6. Appendix A - Payment Schedule: Detailed breakdown of rent payments and due dates
7. Appendix B - Utility Agreements: Copies of relevant utility transfer or payment arrangements
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