rent

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rent

1) v. to hire an object or real property for a period of time (or for an open-ended term) for specified payments. 2) n. the amount paid by the renter and received by the owner. Rent may be specified in a written lease, but also may be based on an oral agreement for either a short period or on a month-to-month basis in which the hiring may be terminated on a month's notice. (See: lease)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

rent

the sum or amount agreed in the lease or tenancy agreement to be paid by the tenant to the landlord for exclusive possession of the property leased for the period of the lease. The same term maybe used for the charge for use of moveables such as a motor vehicle.
Collins Dictionary of Law © W.J. Stewart, 2006

RENT, estates, contracts. A certain profit in money, provisions, chattels, or labor, issuing out of lands and tenements in retribution for the use. 2 Bl. Com. 41; 14 Pet. Rep. 526; Gilb., on Rents, 9; Co. Litt. 142 a; Civ. Code of Lo. art. 2750; Com. on L. & T. 95; 1 Kent, Com. 367; Bradb. on Distr. 24; Bac. Ab. h.t.; Crabb, R. P. SSSS 149-258.
     2. A rent somewhat resembles an annuity, (q.v.) their difference consists in the fact that the former issues out of lands, and the latter is a mere personal charge.
     3. At common law there were three kinds of rents; namely, rent-service, rent-charge, and rent-seek. When the tenant held his land by fealty or other corporeal service, and a certain rent, this was called rent-service; a right of distress was inseparably incident to this rent.
     4. A rent-charge is when the rent is created by deed and the fee granted; and as there is no fealty annexed to such a grant of rent, the right of distress is not in incident; and it requires an express power of distress to be annexed to the grant, which gives it the name of a rent- charge, because the lands are, by the deed, charged with a distress. Co. Litt. 143 b.
     5. Rent-seek, or a dry or barren rent, was rent reserves by deed, without a clause of distress, and in a case in which the owner of the rent had no future interest or reversion in the land, he was driven for a remedy to a writ of annuity or writ of assize.
     6. But the statute of 4 Geo. II. c. 28, abolished all distinction in the several kinds of rent, so far as to give the remedy by distress in cases of rents-seek, rents of assize, and chief rents, as in the case of rents reserved upon a lease. In Pennsylvania, a distress is inseparably incident to every species of rent that may be reduced to a certainty. 2 Rawle's Rep. 13. In New York, it seems the remedy by distress exists for all kinds of rent. 3 Kent Com. 368. Vide Distress; 18 Viner's Abr. 472; Woodf, L. & T. 184 Gilb. on Rents Com. Dig. h.t.. Dane's Ab. Index, h.t.
     7. As to the time when the rent becomes due, it is proper to observe, that there is a distinction to be made. It becomes due for the purpose of making a demand to take advantage of a condition of reentry, or to tender it to save a forfeiture, at sunset of the day on which it is due: but it is not actually due till midnight, for any other purpose. An action could not be supported which had been commenced on the day it became due, although commenced after sunset; and if the owner of the fee died between sunset and midnight of that day, the heir and not the executor would be entitled to the rent. 1 Saund. 287; 10 Co. 127 b; 2 Madd. Ch. R. 268; 1 P. Wms. 177; S. C. 1 Salk, 578. See generally, Bac. Ab. h.t.; Bouv. Inst. Index h.t.; and Distress; Reentry.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
However, she said the monthly rental payments for 2015 and 2016 have been settled with the building owner.
"Property management companies should consider new services such as rental payment reporting to credit bureaus to entice renters into their multifamily properties." added Doherty.
Many other factors will come into play, such as past rental payment history, reports from prior landlords, how long the tenant has been in business, the amount of fit-up that the landlord will be asked to undertake, a tenant's business plan and other credit history.
For instance, the number of participants in the prime credit category increased by 24 percent when rental payment history was added to their credit files.
For an operating lease, the lessee should be entitled to a full deduction for the rental payments, subject to the usual rules on deduction.
Originally it was understood that rental payment by credit card could only be made if the rent is paid for one year upfront to avoid issuing accompanying post-dated cheques.
Just days before the next "quarter day" in England and Wales, December 25 - on which the quarterly rental payments are due - the BRC is publishing a snapshot survey on retailers, asking about their rental arrangements.
The helpline offers support to individuals and families who are finding it difficult to meet their mortgage or rental payments. The helpline provides free, independent, confidential and realistic advice to people in financial difficulty.
If the railroad does not own the property, the railroad does not own the rights to require crossing permit fees and/or annual rental payments. 334-887-0328, dthomas@eagle I resources.com, www.eagle1resources.com.
In addition, 50% of rental payments for airline lounges, office premises, counters and storages can be deferred for up to a year and repaid in interest-free instalments from April 2010 onwards.
TEESSIDE retail centres, which have seen a trend-busting surge in lettings matched by a universal increase in footfall over the crucial Christmas trading period, are moving towards flexible rental payments to help companies through the anticipated downturn.