rack rent , also: rack-rent

This is best done by assuming a letting at a rack rent for a reasonable length of term; say, ten years.

Fourthly, the terms of the lease may prohibit letting except at a rack rent.

The Treasury Solicitor will not usually agree to an assignment of a commercial lease at a rack rent.

Thirdly, he may provide that for the purposes of the rent review under the headlease, the sublet property shall be deemed to be let at a rack rent.

A long lease of a large property acquired for investment may well require far different treatment from a lease of second rate property let to a small businessman at a rack rent.

It is nowadays quite unrealistic for a tenant even to attempt to secure a long letting of commercial property at a fixed rack rent; and no well-advised landlord would grant such a lease.

Daly held the reins as editor and proprietor until 1892, during which time he utilised the power of the printed word to campaign forcefully against absentee landlords, rack rents and evictions.

Given the fact that much of the property in the western half of the country was sub-let to under-tenants at rack rents, it is doubtful whether regional differences were as pronounced as they appear at first sight.

Three years A lease taking effect in possession for a term not exceeding three years at a rack rent need not be made by deed and may be made orally (Law of Property Act 1925, s54).

Yearly tenancies held at rack rents (i.e. rents that were not fixed by custom but which were negotiated by the landlord and tenant) were common for the smaller farms and cottages and in the Midlands in particular they were usual for any property other than a freehold.

This was forgotten by the draftsman in British Railways Board v Elgar House Ltd (1969) 209 EG 1313, where it was nevertheless held that for the purposes of the rent calculation parts of the demised property occupied by the headtenant should be deemed to be let at a rack rent.