Updated on September 28th, 2021
A New Mexico sublease agreement is a contract separate from the original lease that enables a third party (sublessee) to rent the premises from the original leaseholder (sublessor). Subleases are limited-term contracts, and the tenant’s furnishings and appliances are often included in the rental. Tenants usually sublease their property during a period of absence to keep their tenancy paid for and occupied.
The sublessee pays monthly rent and utilities to the sublessor who, in turn, pays the landlord and service companies. It’s important to note, that the sublessor will be held legally and financially responsible for any breach of the master lease’s terms and conditions. Therefore, it is prudent of sublessors to demand references and rental history from sublease applicants before signing an agreement.