Space Type Relet

For example a tenant could lease office space across floors 3 6 in a building.

Space type relet. Relet description location one commerce center is a 522 431 sf mixed use project consisting of retail frontage with office and warehouse units available. There are various reasons properties may be reletted be it because of the tenant landlord or both. Each rental agreement type has its disadvantages.

While they both involve a third party entering into a lease originally signed between the landlord and the initial tenant they are vastly different types of arrangements. Multiple suites on the same floor of a building that are combined and rented to a single tenant is contiguous space. A sublease means someone else pays the tenant rent but the tenant is still responsible for the rent and damages to the unit.

If the new resident wants to throw a party and causes damage to the apartment you won t have to worry about a thing. A relet means a new tenant is responsible for a unit and pays the landlord. As a follow up a reletting involves new lease and new tenant as opposed to a sublease where a landlord would allow existing tenant under a lease to sublease a property in a reletting here you are starting over with a completely new lease and tenant some commercial leases include allowing the landlord to charge a reletting fee for having to prepare the dwelling for reletting to another tenant.

Thus the relet to another tenant constitutes an entirely newcontractual relationship. It includes any space that is available regardless of whether the space is vacant. Reletting and subleasing refer to different methods of renting out a property to a tenant.

The total amount of space that is currently being marketed as available for lease or sale in a given time period. Alternately contiguous space can refer to suites located on multiple floors of a building that a single tenant rents. The new tenant is now the lease holder and the old tenant is no longer responsible for the property.

To renew the lease of. A reletting rental arrangement is a fresh contractual relationship between the community and the person renting out your former apartment completely separate from the rental agreement you signed. If you relet you will have to pay rent even after breaking your lease until a new resident is found.