Rack Rent


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Rack Rent

1. The total amount the owner of property should be able to make from the rental of his/her property. The rack rent is especially important if the property has already been rented and the owner is bound to collect potentially lower rent. The rack rent is the same as the market rent.

2. Excessive rent.
References in periodicals archive ?
Rack-renting and Farmers' Returns on Capital: Beneficial leases survived in certain areas as late as the end of the 19th century, but from around 1750 landlords increasingly imposed rack rents. Turner, Beckett and Afton say that even in the 19th century the landlord tempered the "fully articulated 'rack' rent" with "conventions based on social position" because "landlords were often reluctant to push rents up to the highest possible levels ..." [1997, pp.
In most rack rent leases the tenant is obliged to pay rent and service charge (plus VAT where appropriate) in MODERN UNITS TO LET Ind.
The leases, expiring in August 2023, provide a WAULT of just under eight years and produce a total rental income of GBP 269,000 pa which is considered to be rack rented. The income is guaranteed by Nationwide Accident Repair Services Ltd.