minimum rent
Also found in: Encyclopedia.
minimum rent
The smallest amount of rent due from a tenant with a variable rental rate,such as a rent calculated as a certain percentage of gross sales, with a minimum rent of a certain amount per month.
Also found in: Encyclopedia.
References in periodicals archive
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Minimum rent : Dh50,000 Maxium rent: Dh70,000 How much rents have fallen in one yea r: -8 per cent
Berman and his staff will spend the next week writing lease terms that will establish minimum rent, make the tenant responsible for maintenance, and release the district from liability in case someone is hurt on the premises.
As a result, tenants might be willing to increase their minimum rent payment or agree to a longer lease.
We were expecting a complete construction of this street like other adjacent streets but I guess the whole idea has been dropped to renovate one of the oldest streets of Juffair, where the minimum rent being asked is BD450 for a small apartment.
Although no minimum rent has been set, the trust has said a bid of pounds 0 would be "unfeasible", and hopes to attract bids between pounds 70 and pounds 100 per acre per year in the business plans submitted - in line with the rental values of similar estates in the Gwynedd area.
Is there a minimum rent allowance stipulated for such companies by relevant authorities?
Finance chief Jason Lock said the pre-tax figure was affected by a book charge relating to future minimum rent increases.
Currently, airport officials have set the minimum rent per year for the propeller park area at $15,000 per acre.
The July 2009 rent review will lead to a minimum rent increase of the lower of pounds 870,000 per annum or the open market rent at the time.
Additionally, certain markets, such as suburban Chicago, Minneapolis and Denver, which have experienced minimum rent growth since September 11 while reproduction costs have increased 24 percent, should experience substantial rent increases over the next three years.
The seller has also agreed to guarantee an annual minimum rent of SEK8.
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