6.7.1 Rent

This is the most obvious type of income included in the calculation of the landlord’s profits. The rent is the amount that the tenant agrees to pay for the use of the property, normally on a periodic basis such as monthly or quarterly.

However, rent need not be confined to regular payments – for example, the legislation makes clear that payments by the tenant to maintain or repair the property can also be rent, provided that this the work is not the tenant’s obligation under the lease. Furthermore, rent need not consist solely of a monetary amount – payments in kind can also be included.

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