triplethread
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LSDefine
Simple English definitions for legal terms
net rent
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A quick definition of net rent:
Net rent is the amount of money someone pays to use a property after all the expenses, like repairs and taxes, have been taken out. It's like when you buy candy with your allowance, but you have to pay for the wrapper and the store's rent before you can eat it.
A more thorough explanation:
Definition: Net rent is the rental price for a property after all expenses, such as repairs, utilities, and taxes, have been paid.
For example, if a landlord charges $1,000 per month for rent, but they have to pay $200 for repairs, $100 for utilities, and $50 for taxes, then the net rent would be $650 ($1,000 - $200 - $100 - $50).
This means that the landlord is only making $650 per month in profit from the rental property.