Rent definition: Copy, customize, and use instantly
Introduction
The term "Rent" refers to the monetary payment made periodically by the lessee to the lessor for the use of property or goods. It is a fundamental term in lease agreements, establishing the amount owed and the payment schedule for the leased item or property.
Below are various examples of how "Rent" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Rent" as periodic payment for property
This definition ties "Rent" to the periodic payment for the lease of property.
"Rent" means the monthly or periodic payment made by the lessee to the lessor for the use of the property described in this agreement.
Definition of "Rent" as the fixed amount due
This definition connects "Rent" to a fixed, agreed-upon amount in the contract.
"Rent" refers to the fixed sum of money, payable on a monthly basis, due from the lessee to the lessor for the lease of the premises.
Definition of "Rent" as based on market value
This definition links "Rent" to the market value of the leased property.
"Rent" means the amount determined by the prevailing market rates for similar properties or goods, which may be adjusted periodically in accordance with market conditions.
Definition of "Rent" as the annual payment
This definition applies "Rent" to an annual lease payment structure.
"Rent" refers to the annual payment due from the lessee to the lessor for the use of the leased premises, payable in equal installments throughout the year.
Definition of "Rent" as a percentage of sales
This definition ties "Rent" to a percentage of sales generated from the leased property.
"Rent" means a percentage of the gross sales generated from the business conducted on the leased premises, as specified in this agreement.
Definition of "Rent" as due on a quarterly basis
This definition connects "Rent" to a quarterly payment schedule.
"Rent" refers to the payment made by the lessee to the lessor every three months for the use of the property described in this agreement.
Definition of "Rent" as inclusive of utilities
This definition links "Rent" to an all-inclusive fee, covering utilities.
"Rent" means the total monthly fee, which includes both the use of the property and all related utility services such as water, electricity, and gas.
Definition of "Rent" as adjusted annually
This definition applies "Rent" to an annual adjustment based on inflation or market rates.
"Rent" refers to the amount due from the lessee, subject to an annual adjustment based on the consumer price index or other mutually agreed-upon measures.
Definition of "Rent" as the initial payment
This definition connects "Rent" to the first payment due upon lease commencement.
"Rent" means the initial payment required from the lessee upon the execution of this agreement, covering the first period of use.
Definition of "Rent" as subject to late fees
This definition ties "Rent" to late payment penalties.
"Rent" refers to the amount payable by the lessee each month, with a late fee imposed for any overdue payments, as specified in this agreement.
Definition of "Rent" as a one-time payment
This definition applies "Rent" to a one-time payment scenario.
"Rent" means the one-time payment due upon the commencement of this lease, covering the entire duration of the agreement.
Definition of "Rent" as calculated based on square footage
This definition links "Rent" to the square footage of the leased space.
"Rent" refers to the payment calculated based on the square footage of the leased premises, at a rate specified in the agreement.
Definition of "Rent" as payable in advance
This definition connects "Rent" to an advance payment structure.
"Rent" means the amount due from the lessee, payable in advance at the beginning of each rental period, as set out in this agreement.
Definition of "Rent" as non-refundable
This definition ties "Rent" to a non-refundable payment.
"Rent" refers to the non-refundable sum payable by the lessee to the lessor for the right to occupy or use the property.
Definition of "Rent" as inclusive of property taxes
This definition links "Rent" to the inclusion of property taxes in the payment.
"Rent" means the total amount payable by the lessee, which includes both the cost of property use and the property taxes incurred.
Definition of "Rent" as subject to renegotiation
This definition connects "Rent" to the possibility of renegotiation during the lease term.
"Rent" refers to the amount agreed upon at the outset of the lease, which may be subject to renegotiation after a specified period as outlined in this agreement.
Definition of "Rent" as payable upon demand
This definition ties "Rent" to a demand-based payment structure.
"Rent" means the amount payable by the lessee, which can be requested by the lessor at any time, as per the terms of the lease agreement.
Definition of "Rent" as based on an escalator clause
This definition links "Rent" to an escalator clause tied to certain triggers.
"Rent" refers to the initial payment due, which may increase periodically according to the terms set in the escalator clause outlined in this agreement.
Definition of "Rent" as paid in kind
This definition applies "Rent" to a non-monetary payment form.
"Rent" means the payment made in kind, consisting of goods or services instead of money, as agreed by the parties involved in this contract.
Definition of "Rent" as variable
This definition connects "Rent" to variability based on external factors.
"Rent" refers to a variable amount, determined by the factors outlined in this agreement, such as inflation, market trends, or business performance.
Definition of "Rent" as security deposit
This definition links "Rent" to a security deposit held by the lessor.
"Rent" refers to the security deposit, which is held by the lessor and may be used for damages or unpaid rent during the term of the lease.
Definition of "Rent" as payable through electronic transfer
This definition ties "Rent" to a specific payment method.
"Rent" means the payment made electronically via wire transfer, direct deposit, or another agreed-upon method, as outlined in this lease.
Definition of "Rent" as refunded upon lease termination
This definition connects "Rent" to a refund mechanism at the end of the lease.
"Rent" refers to the amount paid for the lease period, which may be refunded upon the termination of the agreement, subject to the terms and conditions.
Definition of "Rent" as calculated based on the lease term
This definition ties "Rent" to the duration of the lease term.
"Rent" means the payment calculated based on the lease term, with the total sum due in installments as per the payment schedule.
Definition of "Rent" as determined by appraisal
This definition ties "Rent" to an appraisal process to determine the amount.
"Rent" refers to the amount determined by an independent appraisal, conducted at regular intervals, to reflect the current market value of the leased property.
Definition of "Rent" as adjusted based on operating expenses
This definition connects "Rent" to the adjustment based on operating expenses.
"Rent" means the base amount, which may be adjusted periodically to reflect increases in operating expenses such as maintenance, utilities, and property management fees.
Definition of "Rent" as paid in installments
This definition links "Rent" to a specific installment payment structure.
"Rent" refers to the total payment due, which will be paid in equal installments on a [monthly/quarterly] basis as specified in this agreement.
Definition of "Rent" as deferred payment
This definition connects "Rent" to a deferred payment arrangement.
"Rent" means the amount due, which may be deferred until a later date, as specified in this agreement, with interest or penalties applied if not paid by the agreed date.
Definition of "Rent" as calculated based on occupancy
This definition ties "Rent" to the level of occupancy of the leased space.
"Rent" refers to the amount based on the occupancy rate, where rent is adjusted in proportion to the number of units or areas occupied during the lease term.
Definition of "Rent" as prorated for partial periods
This definition links "Rent" to prorated payments for partial lease periods.
"Rent" means the payment due, which will be prorated if the lease commences or terminates on a date other than the beginning or end of a rental period.
Definition of "Rent" as a flat fee
This definition applies "Rent" to a fixed, flat fee structure.
"Rent" refers to the flat fee due for the use of the property, irrespective of any fluctuations in market conditions or the duration of use.
Definition of "Rent" as based on the term of the lease
This definition ties "Rent" to the length of the lease term.
"Rent" means the amount due, calculated based on the length of the lease term, and payable according to the agreed-upon schedule in this agreement.
Definition of "Rent" as the cost of property maintenance
This definition connects "Rent" to the cost of maintaining the leased property.
"Rent" refers to the payment covering both the use of the leased premises and the maintenance or upkeep of the property during the lease term.
Definition of "Rent" as a refundable deposit
This definition links "Rent" to a refundable security deposit arrangement.
"Rent" means the deposit made by the lessee, which is refundable at the end of the lease term, subject to deductions for damages or outstanding payments.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.