How to Sublease a Hangar

The aviation industry has many facets, from flying the planes to maintaining them. One often overlooked aspect is the leasing and subleasing of hangars. These spaces, essential for protecting and working on aircraft, can be costly. Subleasing offers a cost-effective solution for those who need temporary space or smaller areas.

Understanding Hangar Subleasing

Before you even consider subleasing a hangar, you need to understand what it entails. Subleasing allows an original lessee, or tenant, to lease part or all of their rented hangar space to another party. This can be beneficial in various scenarios, from needing less space to wanting extra income to cover rental costs.

Review Your Lease Agreement

The first step is to review your original lease agreement. Look for any clauses related to subleasing. Some landlords prohibit subleasing altogether, while others may require written consent. It’s crucial to understand these terms to avoid any breach of contract, which can lead to penalties or termination of your lease.

Get Landlord Approval

If your lease agreement allows subleasing, you must get formal approval from the landlord. This usually involves submitting a written request outlining your intentions and providing information about the potential sublessee. Transparency is key in these communications to maintain a good relationship with the landlord.

Determine the Sublease Terms

Identify what parts of the hangar you will sublease and for how long. Determine if it’s a full or partial sublease. Specify the area, facility access, and any equipment included. Set the rental rate, payment schedule, and duration. Align these terms with your original lease to prevent conflicts.

Market Your Hangar Space

Once you have landlord approval and clear sublease terms, it’s time to find a sublessee. Utilize aviation forums, hangar rental websites, and industry connections. Create a detailed listing with photos, specifications, and terms. Highlight the benefits and unique features of your hangar space to attract interested parties.

Screen Potential Sublessees

Carefully screen potential sublessees to ensure they are reliable. Check their financial stability, aviation credentials, and history. Arrange meetings or calls to discuss their needs and expectations. It’s essential to establish trust and ensure they will adhere to the terms of your sublease agreement.

Draft a Sublease Agreement

Once you find a suitable sublessee, draft a sublease agreement. This legal document should include:

• Names and contact information of both parties
• Description of the subleased space
• Rent amount and payment schedule
• Term of the sublease
• Responsibilities for maintenance and repairs
• Conditions for terminating the sublease

It’s often wise to consult a lawyer to ensure the agreement is legally sound and covers all potential issues.

Conduct a Walkthrough

Before the sublessee moves in, conduct a thorough walkthrough of the hangar. Document the condition of the space and any included equipment. Take photos and note any existing damages or issues. Both parties should sign off on this report to avoid disputes later.

Maintain Open Communication

Once the sublease begins, maintain open communication with your sublessee. Address any concerns or issues promptly. Regular check-ins can help ensure everything is running smoothly and prevent misunderstandings. Keep your landlord updated if necessary to maintain transparency.

Handling Payments

Ensure payments are made according to the agreed schedule. Some lessees prefer direct payments to the landlord, while others handle it themselves. Decide what works best and ensure both parties adhere to this arrangement. Promptly address any payment issues that arise.

Prepare for the End of the Sublease

As the sublease term nears its end, start preparing for the transition. Conduct a final walkthrough to check for any damages or issues. Ensure the sublessee leaves the space in the agreed condition. Address any repairs or cleaning required before you face possible costs from the landlord.

Reassess Your Needs

After the sublessee moves out, reassess your hangar needs. Decide if you want to sublease again, downsize, or perhaps even upgrade. Reflecting on the experience can help you make more informed decisions going forward.

Subleasing a hangar is a practical solution for many aviation enthusiasts and professionals. By following these steps, you can navigate the process smoothly and efficiently. Whether it’s for cost-saving or temporary needs, a well-handled sublease can benefit all parties involved.

“`