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What is Rent?
Rent
Rent is a periodic payment made by a tenant to a property owner for using a space. The amount and terms are defined in a rental agreement or lease, and rent is usually paid monthly.
- Contract Terms: Rent agreements specify payment amounts and due dates.
- Market Factors: Location, demand, and property condition influence rental rates.
- Security Deposits: Landlords may require a deposit to cover potential damages.
- Rental Adjustments: Lease agreements may allow for periodic rent increases.
Rent provides property access without ownership responsibilities, making it an attractive option for individuals and businesses needing flexibility.
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