rent


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 or return of value given at stated times for the possession of lands and tenements corporeal. A sum of money or other consideration, issuing yearly out of lands and tenements corporeal; something which a tenant renders out of the profits of the land which he enjoys; a compensation or return, being in the nature of an acknowledgment or recompense given for the possession of some corporeal inheritance. 2 Bl.Comm. 41. In re Perlmutter's Will, 156 Misc. 571, 282 N.Y.S. 282.
The payment of royalty under a mineral lease. Robinson v. Horton, 197 La. 919, 2 So.2d 647, 649.
In Louisiana, the contract of rent of lands is a contract by which one of the parties conveys and cedes to the other a tract of land, or any other immovable property, and stipulates that the latter shall hold it as owner, but reserving to the former an annual rent of a certain sum of money, or of a certain quantity of fruits, which the other party binds himself to pay him. It is of the essence of this conveyance that it be made in perpetuity. If it be made for a limited time, it is a lease. Civ.Code La. arts. 2779, 2780.
@ base rent
A specific amount used as a minimum rent in a lease which uses a percentage or overage for additional rent.
@ fee farm rent
A rent charge issuing out of an estate in fee; a perpetual rent reserved on a conveyance of land in fee simple.
@ ground rent
Rent paid to owner of land for use of property; normally to construct building on such. Generally, rent is paid for a long-term lease (e.g. 99 year lease) with lessor retaining title to land. Such longterm lease is commonly renewable. Office buildings, hotels, and similar large structures in cities are commonly built on land under such types of ground leases. A perpetual rent reserved to himself and his heirs, by the grantor of land in fee-simple, out of the land conveyed. It is in the nature of an emphyteutic rent. Also, in English law, rent paid on a building lease
@ net rent
Rent after all expenses.
+ net rent
Basic rent charge plus additional monthly charges for taxes, utilities and maintenance.
See also net lease
@ quit rent
Certain established rents of the freeholders and ancient copyholders of manors were so called, because by their payment the tenant was free and "quit" of all other services
+ quit rent
A rent paid by the tenant of the freehold, by which he goes quit and free,-that is, discharged from any other rent. 2 Bl.Comm. 42
@ rack rent
A rent of the full annual value of the tenement or near it
@

Black's law dictionary. . 1990.

Synonyms:

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  • rent — 1 n 1 a: a return made by a tenant or occupant of real property to the owner for possession and use thereof; esp: a sum of money agreed upon between a landlord and tenant for the use of real property b in the civil law of Louisiana: a contract by …   Law dictionary

  • Rent — (r[e^]nt), n. [F. rente, LL. renta, fr. L. reddita, fem. sing. or neut. pl. of redditus, p. p. of reddere to give back, pay. See {Render}.] 1. Income; revenue. See {Catel}. [Obs.] Catel had they enough and rent. Chaucer. [1913 Webster] [Bacchus]… …   The Collaborative International Dictionary of English

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  • rent-a- — or before a vowel rent an combining form (facetious) Denoting: (as if) rented or hired, organized for a specific occasion or purpose, instantly or artificially created, etc, as in rent a crowd, rent a mob or rent an army • • • Main Entry: ↑rent * …   Useful english dictionary

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  • rent — rent1 [rent] n. [ME < OFr rente < LL * rendita (pp. of * rendere: see RENDER), for L reddita (pecunia), paid (money)] 1. a stated return or payment for the temporary possession or use of a house, land, or other property, made, usually at… …   English World dictionary

  • Rent — may refer to:*Renting, a system of payment for the temporary use of something owned by someone else *Economic rent, in economics, a payment to a factor of production in excess of that which is needed to keep it employed in its current use * Rent… …   Wikipedia

  • rent — /rent/ noun money paid to use an office, house or factory for a period of time ♦ the flat is let at an economic rent at a rent which covers all costs to the landlord ♦ nominal rent a very small rent ■ verb 1. to pay money to hire an office, house …   Dictionary of banking and finance

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  • rent-an- — rent a or before a vowel rent an combining form (facetious) Denoting: (as if) rented or hired, organized for a specific occasion or purpose, instantly or artificially created, etc, as in rent a crowd, rent a mob or rent an army • • • Main Entry:… …   Useful english dictionary

  • Rent — Rent, v. t. [imp. & p. p. {Rented}; p. pr. & vb. n. {Renting}.] [F. renter. See {Rent}, n.] 1. To grant the possession and enjoyment of, for a rent; to lease; as, the owwner of an estate or house rents it. [1913 Webster] 2. To take and hold under …   The Collaborative International Dictionary of English