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 ?
Additionally, home ownership in a desired neighborhood may be much more expensive than renting in the same neighborhood.
Using those figures, renting would save you roughly $25,000 during a five-year span for that machine.
For one thing, a few American studies, namely those of Diller, Winters, Pederson, and Salamon and O'Reilly, have found that landlords were often ordinary retired farmers who were related to their tenants.(5) Their findings imply that the motives farm owners had for renting out their farms may have been more complex, encompassing not just economic considerations but a variety of concerns intimately related to the needs of the family unit as a whole and its individual members.
In 1987, after Colbert ceased renting to third parties, his mother-in-law resided in the property without charge.
But she would also like to see some leeway so that owners don't have to break the rules by renting to an unauthorized use group when a Garment Center manufacturer doesn't exist.
dollar cost of renting an_ actual square foot of office space or square meter of space, including all costs of occupancy.
Since 40 percent of the approximate current market rent of $1,000 is only $400, explained Saul Gluckman, chairman of the Apartment Owners Advisory Council of Westchester and the Mid-Hudson Region, "You have to have a unit that is renting for one-third of the $1,000 to do better with that formula than under the up to 20 percent increase possible under the new rent law."
Under the 1997 rent act, those apartments renting for more than $2,000 become destabilized upon vacancy and can have new rents set by owners.
While the Rent Guidelines Board (RGB) has voted increases of two percent and four percent for new one- and two-year leases respectively, an RGB-approved low rent supplement of $15 for apartments renting for less than $450 (provided the new rent plus guidelines increases does not go over $465), as well as a 5 percent sublet allowance and a two percent increase for rooming house units, are under legal attack by tenants.
A low-rent supplement of $15 has also been proposed for apartments renting for $400 or less.