What is the Definition of Contract Rent?

Contract Rent

Noun

Definition: Actual rent as specified in a rental or lease agreement, as opposed to actual market or economic rent. Typical options include $/Yr., $/SF/Yr., $/SF/Mo. Different from Market Rent which is the rental income that a property is likely to command in the under current market conditions. Market rent, also referred to as economic rent, may be either higher or lower than contract rent.

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