ABSTRACT
The money which is paid for the loan of land and buildings is called rent. In other words rent is the income derived from the ownership of land and buildings, though the word is not always used if the owner does not loan his land to others. When land or buildings are let, the owner or landlord often undertakes to pay for certain repairs, and there are generally certain expenses of manage ment ; then the sum he receives from the tenant is called gross rent, and the sum that remains after he has paid the necessary outgoings is the net rent. It is the net rent which we shall consider, remembering that apart from the reasons for variation in net rent the gross rent will vary with the amount of repairs, etc., which the landlord contracts to carry out.
