RELETTING Meaning and
Definition
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Reletting is a term used in the context of leasing or renting a property. It refers to the act of renting out a property to a new tenant after an original lease or rental agreement has been terminated or broken. When a tenant decides to prematurely end their lease or is evicted, the property owner or landlord may choose to relet the property to another individual or business entity.
During the process of reletting, the property owner seeks to find a new tenant who is willing to take on the lease agreement, either for the remaining term of the original lease or for a new term altogether. The property owner or landlord may advertise the vacant property, screen potential tenants, and negotiate and establish a new lease agreement.
Reletting can occur in various rental scenarios, such as residential properties, commercial spaces, or even short-term vacation rentals. It provides an opportunity for property owners to maintain occupancy and continue generating rental income, even if the original tenant breaks the lease agreement.
It is important to note that the reletting process may vary depending on local laws and regulations governing the landlord-tenant relationship. Additionally, there may be specific clauses or conditions outlined in the original lease agreement that dictate how reletting should be conducted.
Common Misspellings for RELETTING
Etymology of RELETTING
The word "reletting" is derived from the root word "let", which comes from Old English and means "to allow" or "to lease". The prefix "re-" in "reletting" signifies repetition or doing something again. Therefore, "reletting" refers to the act of leasing a property again, either by extending a current lease or leasing to a new tenant after the previous lease has expired.
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