A commercial sublet is a rental agreement where a commercial leaseholder rents out all or a portion of their rented commercial property to a third party. The original leaseholder's contract with the landlord remains in effect, while at the same time a new contract is entered into allowing the third property, called the subtenant or sublessee, to take over the property. The subtenant usually pays rent to the original leaseholder, who in turn pays rent to the landlord or property owner. The terms of most commercial leases often make it difficult to terminate a commercial lease early, therefore a commercial sublet is often a useful alternative. Commercial sublet space is often rented for reduced rates, especially when there is a great deal of commercial sublet space on the market. The US financial crisis that began to affect businesses in 2006-2007 caused a number of businesses to close, creating an excessive amount of available commercial sublet space. This caused prices for commercial sublets to fall dramatically as leaseholders scrambled to secure subtenants for their vacant properties.