Amount of money paid to the Landlord, usually quoted on an annual basis per foot or monthly amount. It typically does not include rental tax, but may include all other charges for expenses related to the building operation (electricity, water, insurance, janitorial, repair). See Overages and Escalation terms.
A specific amount used either as a minimum rent in a lease (retail) which uses a percentage of sales or overage for additional rent or sets a base onto which is added expenses and taxes in a net lease or increases in those items in a fully serviced lease.
Where there is provision in a lease for the total rent to be reviewed periodically ( by some method of indexation or other formula) the minimum amount of rent ( if any) quantified in and payable under the lease.
A set amount used as a minimum rent in a lease with provisions for increasing the rent over the term of the lease. See also " Escalation Clause", " Operating Expense Escalation" and " Percentage Lease".
The minimum rent due to the landlord. Typically, it is a fixed amount. This is a face, quoted, contract amount of periodic rent. Escalations are calculated from the annual base rate. See contract rent.