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.