best rent

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 review. In many circumstances, best rent may be the same as the open market rent (see open market value).
Unlike open market rent, the concept of best rent may allow for an unusually high valued transaction or property to be taken into account.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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