Rent
Definition of Rent
Pronunciation: rĕnt | v. i. | 1. | To rant. | | imp. & p. | 1. | imp. & p. p. of Rend. | | n. | 1. | An opening made by rending; a break or breach made by force; a tear. | | 2. | Figuratively, a schism; a rupture of harmony; a separation; as, a rent in the church. | | v. t. | 1. | To tear. See Rend. | | n. | 1. | Income; revenue. See Catel. | | 2. | Pay; reward; share; toll. | | 3. | (Law) A certain periodical profit, whether in money, provisions, chattels, or labor, issuing out of lands and tenements in payment for the use; commonly, a certain pecuniary sum agreed upon between a tenant and his landlord, paid at fixed intervals by the lessee to the lessor, for the use of land or its appendages; as, rent for a farm, a house, a park, etc. | | 4. | (Polit. Econ.) That portion of the produce of the earth paid to the landlord for the use of the "original and indestructible powers of the soil;" the excess of the return from a given piece of cultivated land over that from land of equal area at the "margin of cultivation." Called also economic rent, or Ricardian rent. Economic rent is due partly to differences of productivity, but chiefly to advantages of location; it is equivalent to ordinary or commercial rent less interest on improvements, and nearly equivalent to ground rent. | | v. t. | 1. | To grant the possession and enjoyment of, for a rent; to lease; as, the owwner of an estate or house rents it. | | 2. | To take and hold under an agreement to pay rent; as, the tennant rents an estate of the owner. | | v. i. | 1. | To be leased, or let for rent; as, an estate rents for five hundred dollars a year. |
Related Words
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