Legal Dictionary

rent

Legal Definition of rent

Noun

This is the consideration paid by a tenant to a landlord in exchange for the exclusive use and enjoyment of land, a building or a part of a building. Under normal circumstances, the rent is paid in money and at regular intervals, such as the first of every month. The word has also come to be used as a verb as in to "rent an apartment", although the proper legal term would be to "lease an apartment."

Related terms

Pronunciation

Etymology

rente

rendere

Noun

rent (plural rents)

A payment made by a tenant at intervals in order to occupy a property.
A similar payment for the use of equipment or a service.
(economics) A profit from possession of a valuable right, as a restricted license to engage in a trade or business.

A New York city taxicab license earns more than $10,000 a year in rent.

Verb

rent (third-person singular simple present rents, present participle renting, simple past and past participle rented)

(transitive) To occupy premises in exchange for rent.
(transitive) To grant occupation in return for rent.
(transitive) To obtain or have temporary possession of an object (e.g. a movie) in exchange for money/rent.

References:

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Sewa

Noun

payment made by a tenant