underlet meaning

Verb: underlet (underlet,underletting)  `úndu'let

1. To let or lease at second hand; to sublet 
2. To let below the value

Derived forms: underlet, underlets, underletting

[Business]
AmE / verb [+ obj or no obj] (underletting, underlet, underlet) (also underlease)

(Property )

1

to rent to sb else all or part of a property that you rent from the owner

2

to rent all or part of a property from sb that rents it from the owner

SYN SUBLET

underlet /; AmE / noun [C] = UNDERLEASE

Examples

1. construction of underlet houses and the state's macro economy