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)

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.

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.

References in periodicals archive ?
SmartStop's real estate portfolio also includes five student housing communities with approximately 2,800 beds and 1.1m square feet of space, as well as four senior housing communities with approximately 650 beds and 500,000 rentable square feet of space.
* Storage Village Griffin II, located at 2976 N Expressway, Griffin, GA, consisted of 372 units and 49,260 rentable square feet.
For example, square-footage calculations for useable and rentable space can quickly be generated with full back-up of how the calculations were created, providing support for lease negotiation or general tenant information.
Cost drivers: Cost per rentable square foot, cost per usable square foot, cost per activity or cost per year -- depending on the specific activity.
The REIT owns four properties comprising approximately 2,120 self storage units and approximately 237,000 net rentable square feet of storage space.
Houston, TX, September 25, 2013 --(PR.com)-- "Mini-Storage Messenger" magazine has listed Amazing Spaces[R] Storage Centers as a Top-Operator of 2013.The list features the industry's key players and ranks the top 100 self storage operators in the US by total rentable square footage.
The average roads/grounds expense in a campus style facility is $0.27/building rentable square foot or $3,949 per acre of improved land.
Los inversionistas elogiaron a Reichstul por transformar a la burocratica empresa estatal en una multinacional rentable. Pero varios derrames de crudo y la mortifera explosion de una plataforma maritima hicieron menguar los ingresos de Petrobras, a la vez que sacaban a la luz el deficiente historial ecologico y de seguridad de la compania.
The company owns 168 properties with approximately 20.6m rentable square feet and manages an additional 20 properties with approximately 1.2m rentable square feet.