noun a very high rent that is set at the full market value without any reduction or subsidy
In real estate, rack rent refers to the full market rent or the highest rent that can be charged for a property.
In legal terms, rack rent may refer to a specific type of rent payment or lease agreement.
In economics, rack rent can be used to analyze rental market trends and pricing strategies.
Rack rent is often used in property management to determine the maximum rent that can be charged for a property.
In literature, 'rack rent' may be used to describe the excessive or exorbitant rent charged by a landlord.
Real estate agents may use the term 'rack rent' when discussing rental properties and the potential for high rental prices.
Legal professionals may encounter 'rack rent' in the context of landlord-tenant disputes or lease agreements.
Historians may refer to 'rack rent' when discussing historical practices of land ownership and rent collection.
Economists may analyze the concept of 'rack rent' in the context of housing affordability and rental market dynamics.