YEARLY RENT Meaning and
Definition
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Yearly rent refers to the fixed amount of money that is paid on an annual basis by a tenant to a landlord for the use and occupancy of a property. It is a contractual agreement where the tenant agrees to pay a specified sum as rent for each year in the duration of the lease agreement.
Yearly rent is typically agreed upon in advance and remains unchanged for the duration of the lease period, which is usually one year. It is distinct from monthly rent, which is paid on a monthly basis. Yearly rent is often preferred by both tenants and landlords as it offers stability and predictability for budgeting purposes.
The determination of the yearly rent amount can be influenced by various factors such as the location, condition, size, and market value of the property. It may also be subject to negotiation between the tenant and the landlord before finalizing the lease agreement.
Yearly rent is usually paid in regular intervals, for instance, monthly, quarterly, or in a lump sum at the beginning of the lease term. It covers the tenant's right to exclusively occupy the rented premises and utilize all the amenities and facilities provided by the landlord during the specified time period.
Overall, yearly rent is a fixed recurring payment made by a tenant to a landlord every year in return for the enjoyment and possession of a property, as agreed upon in a lease agreement.
Common Misspellings for YEARLY RENT
- tearly rent
- gearly rent
- hearly rent
- uearly rent
- 7early rent
- 6early rent
- ywarly rent
- ysarly rent
- ydarly rent
- yrarly rent
- y4arly rent
- y3arly rent
- yezrly rent
- yesrly rent
- yewrly rent
- yeqrly rent
- yeaely rent
- yeadly rent
- yeafly rent
- yeatly rent
Etymology of YEARLY RENT
The word "yearly rent" has a straightforward etymology.
First, the word "yearly" derives from the Old English word "gearlic" which means "pertaining to a year". Over time, "gearlic" transformed into "yeerly" in Middle English before settling into its current form, "yearly", in Modern English. The term "yearly" refers to something happening or occurring once every year, often used in the context of a repetitive or regular payment.
The word "rent" comes from the Old French verb "renter", which means "to rent or income". "Renter" originated from the Latin word "rendere", which signifies "to give back, to restore". In its current usage, "rent" refers to a regular payment made by a tenant to a landlord in exchange for the use or occupation of property.
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