A lease that allows the renter (master lessee) to relet the property to other renters. The master lessee is responsible for management and marketing the properties. Typically, the owner or master lessor is guaranteed a regular installment regardless of how well the master lessee is performing. The master lessee (renter) assumes all of the risk; however, the owner (master lessor) receives much less than if he or she were to manage the property directly. For more information, see the "All About Leases" article in the "Real Estate In-Depth" section.
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