Rental value

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. [ [http://www.legal-dictionary.freedictionery.com/rental+value Free legal dictionary] ] [ [http://dictionary.law.com/default2.asp?selected=1791&bold=7%C7%C7%C7%C 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

References

ee also

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


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