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LSDefine
Simple English definitions for legal terms
net rental
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A quick definition of net rental:
Net rental: The money left over after all the expenses have been taken out of the total amount received from renting a property. It is the income received from rent, and a record of payments received from rent.
A more thorough explanation:
Definition: Net rental refers to the amount of rental income that remains after all expenses have been deducted from the gross rental income. It is the income received from rent.
Examples:
- If a landlord charges $1,000 per month in rent and has $200 in expenses (such as property taxes, maintenance, and insurance), the net rental income would be $800 per month.
- In the oil and gas industry, a delay rental is a periodic payment made by a lessee to postpone exploration during the primary lease term. This is an example of a type of rental payment that is not included in net rental income.
The examples illustrate that net rental income is the amount of rental income that a landlord or property owner actually receives after all expenses have been paid. It is important for property owners to calculate their net rental income to determine the profitability of their rental property.