Legal implications to rent out property that i have on rent for 1 yr?
Can I further rent out a commercial property that I have on rent since the past 1 year? I have spent a lot of money on the interiors of the property and want to rent it out to someone at a higher rent than what I am paying to my landlord.
What are the legal implications of doing so?
It depends on the contractual terms and conditions. Generally all rent agreements provide that the tenant cannot sub-let the property, however if your contract is silent on this aspect then you can after taking express authorization from the landlord sub-let the property.
In case you sub-let the property without the landlords permission or in violation of the Rent Agreement then, the landlord can file an eviction petition in the Competent Court and get you evicted and moreover, he can even claim the profits you have derived by sub-letting the property.
The fact that it is a commercial property or a residential property shall not make a difference.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Landlord/Tenant Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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