rack rent

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 drop below a full rate for long.

Easyform Glossary of Law Terms. — UK law terms.


rack rent
In modern usage, a rack rent is usually a rent that represents the full open market annual value of a holding, often simply called the market rent. Less frequently, a rack rent may also be "the maximum rent permitted by law", or an extortionate rent.
Related links

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

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Rack-rent — denotes two different concepts: # an excessive or extortionate rent, or # the full rent of a property, including both land and improvements.The second definition is equivalent to the economic rent of the land plus interest on capital improvements …   Wikipedia

  • 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

  • rack-rent — rack renter, n. /rak rent /, n. 1. Also, rack rent. rent equal to or nearly equal to the full annual value of a property. v.t. 2. to exact the highest possible rent for. 3. to demand rack rent from. [1600 10] * * * …   Universalium

  • Rack-rent — v. t. To subject to rack rent, as a farm or tenant. [1913 Webster] …   The Collaborative International Dictionary of English

  • rack-rent — [rak′rent΄] n. [ RACK1, vt. 4 + RENT1] an excessively high rent; esp., a rent whose annual amount is equal, or almost equal, to the value of the property vt. to exact rack rent from …   English World dictionary

  • rack-rent|er — «RAK REHN tuhr», noun. 1. a person subjected to rack rent. 2. a person who exacts rack rent …   Useful english dictionary

  • Rack-rent — (r[a^]k r[e^]nt ), n. A rent of the full annual value of the tenement, or near it; an excessive or unreasonably high rent. Blackstone. [1913 Webster] …   The Collaborative International Dictionary of English

  • rack-rent — rack′ rent n. rent equal to or nearly equal to the full annual value of a property …   From formal English to slang

  • rack rent — noun an extortionate rent • Hypernyms: ↑rent * * * noun Etymology: rack (IV) : a rent equal or nearly equal to the full annual value of the property : an excessive or unreasonably high rent * * * 1. n. an extortionate or very high rent, esp. an… …   Useful english dictionary

  • rack-rent — UK / US noun [countable/uncountable] Word forms rack rent : singular rack rent plural rack rents business rent that is unfairly high …   English dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”