Reletting definition

Reletting what does that mean?? Reletting is simply finding someone else to take over the terms of your Lease by signing it over to him/her. Before you do that, there are a few things to know: You are still bound by the terms of the Lease and are not permitted to cancel it prematurely. Not all communities allow reletting, and those that do, are not always successful in finding a replacement resident. The new resident and new guarantor will need to be approved by management before the reletting process is complete and relieves you of your Lease agreement. A new Lease and a new Guaranty Agreement must be completed and submitted. Furthermore, the standard move-in and move-out procedures will be performed. The new resident must inspect the apartment, note all damages on the Unit Condition Checklist and accept the apartment. The new resident will be required to pay a new security deposit, application fee, prepaid rent, and all other applicable fees and deposits. Once all of these conditions have been met, the effective date of the transfer will be the date the new resident moves in (“Effective Date”). You will be refunded your security deposit, less any deductions for damages, cleaning or other charges associated with the Lease. You and your guarantor will remain financially liable for all charges incurred until the Effective Date and will be released from all obligations under the Lease which arise after the Effective Date. You should ensure that the new resident successfully switches all utilities payable from your name to his/her name. If you pay a reletting fee for a transfer that is unsuccessful, you will receive a credit toward future rent payments.
Sample 1
Reletting. In any case where LANDLORD has recovered possession of the Leased Premises by reason of TENANT'S default, LANDLORD may, at LANDLORD'S option, occupy the Leased Premises or cause the Leased Premises to be reasonably redecorated, altered, divided, consolidated with other adjoining premises, or otherwise changed or prepared for reletting, and may relet the Leased Premises or any part thereof as agent of TENANT or otherwise for a term or terms to expire prior to, at the same time as, or subsequent to the original expiration date of this Lease, at LANDLORD'S option, and receive the rent therefor, applying the same first to the payment of such expenses as LANDLORD may have incurred in connection with the recovery of possession, redecoration, altering, dividing, consolidating with other adjoining premises, or otherwise changing or preparing for reletting, and the reletting, including reasonable brokerage fees and attorneys' fees (to the extent allowed by law) and then to the payment of damages in amounts equal to the rent hereunder and to the cost and expense of performance of the other covenants of TENANT as herein provided; and TENANT agrees, whether or not LANDLORD has relet, to pay to LANDLORD damages equal to the rent and other sums herein agreed to be paid by TENANT during the remainder of the original term of this Lease, less the net proceeds of the reletting, if any, as ascertained from time to time and the same shall be payable by TENANT on the several rent days above specified. LANDLORD shall have the right, in reletting the Leased Premises, to grant reasonable rent concessions and TENANT shall not be entitled to any credit by reason thereof. No such reletting shall constitute a surrender and acceptance or be deemed evidence thereof or in any way relieve TENANT of its obligations under this Lease except to the extent of the net proceeds received from such reletting.
Sample 1

Examples of Reletting in a sentence

  • Resident acknowledges that the Reletting Fee is not a cancellation fee or a buyout fee.

  • Eric Lawson noted the Health Information Exchange is still in development.

  • Reletting can be for a period shorter or longer than the remaining term of this lease.

  • The Reletting Fee is applicable when Owner finds a suitable replacement resident for the remainder of the Lease Term.

  • The Reletting Fee is separate and distinct from the Assignment Fee.

  • The Reletting Fee does not release you from continued liability for future or past-due rent, charges, fees or other sums due under this Lease Contract.

  • You agree that the Reletting Fee is a reasonable estimate of such damages and that the fee is due whether or not Owner’s reletting attempts succeed.

  • The Reletting Fee and late charges are liquidated amounts covering only Owner’s damages associated with Owner’s time, effort and expense in finding and processing another resident to occupy the Unit and Premises.

  • The Reletting Fee applies if and/or when Owner finds a suitable replacement resident, whereas the Assignment Fee applies when Resident finds a suitable replacement resident approved by Owner.

  • You will be liable for a Reletting Fee equal to 85% of the highest monthly rent during the Lease Term if you (1) fail to move in or (2) move out without prior written approval, or (3) are judicially evicted.

Related to Reletting

  • Costs of Reletting shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to relet the Premises, including, without limitation, legal fees, brokerage commissions, the cost of alterations and the value of other concessions or allowances granted to a new tenant.

  • the Premises means the building or part of the building booked and referred to in the contract

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Landlord shall have the meaning given such term in the preambles to this Agreement and shall also include their respective permitted successors and assigns.

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Additional Rent means any and all amounts, other than Basic Rent, required to be paid by the Tenant under this Lease, whether or not same are designated “Additional Rent” or whether or not the same are payable by Landlord;

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.

  • Base Rent As defined in Section 3.1.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Repairs means the repairs to be made to the Mortgaged Property, as described on the Repair Schedule of Work (Exhibit C) or as otherwise required by Lender in accordance with this Loan Agreement.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Rents means all of the rents, royalties, issues, profits, revenues, earnings, income and other benefits of the Property, or arising from the use or enjoyment of the Property, including all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or other payments for the use or occupancy of rooms or other public facilities within the Real Property.

  • Sublandlord means the holder of sublandlord’s interest under this Sublease. In the event of any assignment or transfer of the Sublandlord’s interest under this Sublease, which assignment or transfer may occur at any time during the Term in Sublandlord’s sole discretion, Sublandlord shall be and hereby is entirely relieved of all covenants and obligations of Sublandlord hereunder accruing subsequent to the date of the transfer and it shall be deemed and construed, without further agreement between the parties hereto, that any transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublandlord hereunder. Sublandlord may transfer and deliver the then existing Letter of Credit to the transferee of Sublandlord’s interest under this Sublease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto. In addition, Sublandlord shall comply with all of its obligations as “Tenant” under the Master Lease except to the extent that any such obligation is the obligation of Subtenant pursuant to the terms of this Sublease. Notwithstanding any other term or provision of this Sublease, the liability of Subtenant to Sublandlord for any default in Subtenant’s obligations under this Sublease shall be limited to actual, direct damages, and under no circumstances shall Sublandlord, its partners, members, shareholders, directors, agents, officers, employees, contractors, sublessees, successors and/or assigns be entitled to recover from Subtenant (or otherwise be indemnified by Subtenant) for lost revenues, lost profit or other consequential, special or punitive damages arising in connection with this Sublease for any reason, except for any breach by Subtenant under Section 32 of the Master Lease. Notwithstanding any other term or provision of this Sublease, no personal liability shall at any time be asserted or enforceable against Subtenant’s shareholders, directors, officers, or partners on account of any of Subtenant’s obligations or actions under this Sublease.

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Tenant’s Property means Removable Installations and, other than Installations, any personal property or equipment of Tenant that may be removed without material damage to the Premises, and (z) “Installations” means all property of any kind paid for by Landlord, all Alterations, all fixtures, and all partitions, hardware, built-in machinery, built-in casework and cabinets and other similar additions, equipment, property and improvements built into the Premises so as to become an integral part of the Premises, including, without limitation, fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water systems, glass washing equipment, autoclaves, chillers, built-in plumbing, electrical and mechanical equipment and systems, and any power generator and transfer switch.

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack or locker for the purpose of parking and securing bicycles, and:

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • the Landlord means the party named on the first page of this Agreement and any successor and any person who has an interest as heritable proprietor in The Property, even if not named in this Agreement. The Landlord agrees to inform The Agent, in writing, of any changes to ownership of The Property, contact telephone numbers, postal or e-mail addresses as soon as possible and in any event within 7 days of the change.