Rental value

Rental value is the Fair market value of Property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor (landlord) under a license to real property. [Ballentine's Law Dictionary, p. 450.] In the science and art of Appraisal, it is the amount that would be paid for rental of similar real property in the same condition and in the same area. [ [ Free legal dictionary] ] [ [ Law dictionary online] ]

In a contract lawsuit, the lessor could collect the "rental value" of the premises from the saloon lessee {tenant) who had violated a lease. ["Geolet v. National Insur, Co.", 164 N.E. 101, 62 A.L.R. 425, Landlord & Tenant (key #) 184(1)(year?).] Usable value is "not" the same as rental value, but is equivalent, and has been used in a condemnation proceeding. ["Reisert c. City of New York", 66 N.E. 731, 174 N.Y. 196 (year?).]

Rental value can also be used in a divorce, separation, or annulment action for equitable distribution, in those states "lacking" Community property laws. Fact|date=May 2007


ee also

*Capitalization rate
*Fair market value
*Gross Output
*Gross Rent Multiplier
*Minimum lease payments
*Operating surplus
*Present value

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • rental value — The amount which someone would pay for rental of similar property in the same condition in the same area. Evidence of rental value becomes important in lawsuits in which loss of use of real property or equipment is an issue, and the rental value… …   Law dictionary

  • rental value — The amount for which premises will let; not a conjectural, but a fair, value to be ascertained by evidence of what the premises will rent for in the open market or evidence of other facts from which the fair value may be determined. Brewington v… …   Ballentine's law dictionary

  • rental value — / rent(ə)l ˌvælju:/ noun a full value of the rent for a property if it were charged at the current market rate (i.e. calculated between rent reviews) …   Dictionary of banking and finance

  • rental value insurance — noun : insurance against loss to the occupant of the rental value of described premises because of specified damage to such premises …   Useful english dictionary

  • Value added — refers to the additional value of a commodity over the cost of commodities used to produce it from the previous stage of production. An example is the price of gasoline at the pump over the price of the oil in it. In national accounts used in… …   Wikipedia

  • value — val·ue 1 / val yü/ n 1 a: a fair return or equivalent in goods, services, or money for something exchanged received good value for the price b: valuable consideration at consideration …   Law dictionary

  • Rental Pool — A type of contract law sharing arrangement. Rental pool arrangements resemble time shares in the sense that in both cases, different parties divide the use and expenses of property. Rental pools seek to increase the number of days the home is… …   Investment dictionary

  • Value product — The value product (VP) is an economic concept formulated by Karl Marx in his critique of political economy during the 1860s, and used in Marxian social accounting theory for capitalist economies. Its annual monetary value is approximately equal… …   Wikipedia

  • value — {{Roman}}I.{{/Roman}} noun 1 amount of money that sth is worth ADJECTIVE ▪ high, low ▪ the high value of the pound ▪ full, total ▪ real …   Collocations dictionary

  • Gross annual value — The Gross Annual Value (GAV) the current value, the actual rent (whetherreceived or receivable) or the fair rental value, whichever is highest or which the property might beexpected to attract on the open market in ideal circumstances where there …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.