Relet

Relet (verb): The act of leasing a property or asset again to another tenant or lessee, typically after the previous lease has expired or been terminated. This term is commonly used in real estate and property management to indicate the process of finding a new occupant for a space that was previously rented.

Relet meaning with examples

• After the previous tenants moved out, the property manager decided to relet the apartment swiftly to minimize the vacancy period. They advertised the listing on several platforms and held an open house to attract potential renters, ensuring the space was ready for new occupants as quickly as possible.
• When her original lease ended, Sarah was faced with the decision of whether to renew or to allow her landlord to relet the unit. After careful consideration, she opted for a new location that better suited her needs, leaving the landlord to find a suitable new tenant without delay.
• The landlord found it imperative to relet the commercial space as the local economy was booming, and he wanted to capitalize on the demand. He made improvements to the office layout and held a few showings, excitedly discussing rental terms with prospective businesses looking for a new location.
• Due to unexpected renovation delays, the real estate agent was forced to relet the apartment to avoid losing out on rental income. She worked diligently, reaching out to prior applicants, and quickly secured a tenant who was ready to move in just as the renovations were completed.