By JOHN SCHUSSLER for General Aviation News
Rental hangar tenants sometimes ask their landlords if they can sublease hangar space to someone else. Maybe a second airplane will fit in the hangar or the airplane will be gone several months and someone else wants to use it during that time. The landlord usually says “no.”
There are several reasons for that answer. Landlords prefer to have a direct relationship with their tenants to enforce the lease covenants. They would not have that direct relationship with a sublessee and would need to go through their tenant to deal with the sublessee.
Another reason is that landlords don’t want their tenants to mark up the rent. If the space can generate a higher rental rate, the landlord wants that money.
What if two airplane owners just want to share a T-hangar space? Instead of a sublease, the two airplane owners can both sign the lease as Tenants in Common.