No, it does not mean you can sublet to someone else, especially not to receive a higher rent than you are currently paying to your landlord.
Frank W. Chen has been licensed to practice law in California since 1988. The information presented here is general in nature and is not intended, nor should be construed, as legal advice for a particular case. This Avvo.com posting does not create any attorney-client relationship with the author. For specific advice about your particular situation, please consult with your own attorney.
As Mr. Chen noted, the phrase you cited does not give you permission to sublet. The term “assign” in your lease does not likely refer to assigning a physical portion of your garage space to someone else but rather to assigning your rights under the lease to someone else (which, based on the provision you quoted, is prohibited). A complete description of Section/Paragraph 5 would be necessary to understand whether the lease permits you to sublet.
Eric L. Toscano, Esq. (415-754-8529) is a San Francisco-based attorney whose practice focuses on litigation and dispute resolution in the areas of business law, real estate law, and landlord-tenant law. His response to your question is based on the information you provided and does not create an attorney-client relationship. You should consider retaining an attorney who can review all the facts and offer advice based on the unique circumstances of your situation.