Ciao! Welcome to a new episode of Building Wealth Through Real Estate...Brick by Brick with me, Nico James-Bock, Founder of The CondoWiz™ Group and Broker at Royal LePage Signature Realty in Downtown Toronto. In today's episode my special guest, Zachary Soccio-Marandola, a Toronto-based lawyer, explains the difference between a lease assignment and a sublet, as well as the rights of the landlord and tenant.

Assigning means that a new tenant takes over your tenancy. The amount of rent and the terms of the rental agreement stay the same. If you assign your tenancy, you do not have the right to move back in. And you are not responsible if the new tenant causes damage or owes rent.

“Sublet" means that another person moves into your apartment but you move back in at a later date. If you are subletting, you are still responsible for making sure the rent gets paid or for compensating the landlord for any damage done to your apartment in your absence.

Law Office of Zachary Soccio-Marandola
1 Dundas St W, Suite 2500
Toronto ON M5G 1Z3
(647) 797-6881
zachary@socciomarandola.com

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