- rack rent lease
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A lease let at a rack rent.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
rack rent lease
Look at other dictionaries:
rack rent — A rent which is kept to an open market level during the period of a lease by rent reviews at regular intervals, usually three or five years. This usually means that the tenant obtains little inherent value in the lease because the rent does not… … Law dictionary
rack rent — ➔ rent2 * * * rack rent UK US noun [C] PROPERTY ► a rent that is agreed between the owner of a property and the person renting it, rather than being fixed or controlled by law: »The terms of the lease may prohibit letting except at a rack rent.… … Financial and business terms
rent — Consideration paid for use or occupation of property. In a broader sense, it is the compensation or fee paid, usually periodically, for the use of any rental property, land, buildings, equipment, etc. At common law, term referred to compensation… … Black's law dictionary
rent — Regular payments to an owner for the use of some leased property. Bloomberg Financial Dictionary * * * ▪ I. rent rent 2 noun PROPERTY 1. [countable, uncountable] money paid for the use of a house, office etc: • Commercial rents have decreased… … Financial and business terms
rent — Verb: To obtain possession of premises under a lease. To let premises. Noun: Compensation in money, provisions, chattels, of services, paid or given in exchange for the use and occupation of real estate. 32 Am J1st L & T § 428. A sum stipulated… … Ballentine's law dictionary
rent — A payment for the use of land, usually under a lease The most usual kinds are ground rent and rack rent. Rack rent is paid when no capital payment (premium) has been made for the lease and the rent therefore represents the full value of the land… … Big dictionary of business and management
rent — Synonyms and related words: abrasion, abysm, abyss, aggravated, arroyo, bareboat charter, blemish, box canyon, breach, break, breakage, broach, broken, burn, burned, burst, busted, canyon, cavity, chafe, chap, charter, chasm, check, checked,… … Moby Thesaurus
best rent — The highest rent that can reasonably be expected by a landlord in the circumstances of a particular case. The term may have a particular meaning, depending on context. For example, a lease may specify what is considered to be best rent on a rent… … Law dictionary
rental — Synonyms and related words: bareboat charter, chambers, charter, flat, hire, hiring, lease, lend lease, let, lodgings, quitrent, rack rent, rent, rent charge, rent roll, rooms, sublease, subrent, suite, tenement … Moby Thesaurus
Irish Land Acts — (1870–1909) British legislation passed between 1870 and 1909 to benefit Irish tenant farmers. As a result of wars, confiscations, and anti Catholic laws, Ireland ’s wealthy landlords almost always were Protestants of English descent. Fewer… … Encyclopedia of the Age of Imperialism, 1800–1914
