Pronunciation: /ræk rɛnt/
noun a very high rent that is set at the full market value without any reduction or subsidy
A1 I heard that the landlord is charging a high rack rent for the apartment.
A2 The tenants were struggling to pay the rack rent on time each month.
B1 The government has regulations in place to prevent landlords from charging excessive rack rent.
B2 The tenants decided to negotiate with the landlord to lower the rack rent for the commercial space.
C1 The issue of rack rent and affordable housing is a hot topic in the city council meetings.
C2 The real estate developer was accused of exploiting tenants by imposing a rack rent increase without proper notice.
formal The landlord was accused of charging rack rent for the small apartment.
informal The landlord is totally ripping us off with that rack rent!
slang I can't believe the rack rent on this place, it's highway robbery!
figurative Paying such high rack rent feels like getting robbed every month.
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