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What is a sublease called?

A sublease is the re-renting of property by an existing tenant to a new third party for a portion of the tenant's existing lease contract. The sublease agreement may also be called a sublet.

What is a sublet clause?

In a subleasing arrangement, the subtenant pays rent to you and you continue to pay the landlord under the terms of your lease. If the subtenant fails to pay the rent, you have the power to terminate the sublease, evict the subtenant, and retake the space, just as your landlord can do to you.

What does air stand for in commercial real estate?

Most (90%+) of California realtors use either AIR CRE Standard Offer, Agreement And Escrow Instructions For Purchase of Real Estate (Non-Residential) (referred to as \u201cAIR\u201d) and the CAR Commercial Property Purchase Agreement And Joint Escrow Instructions (NON-RESIDENTIAL) (referred to as \u201cCAR\u201d).