The list price for rent.
Example: When the market was soft, the asking rent for office space was $18 per square foot, but the Lessor reduced it to $16 on a 5-year lease and offered 3 months' free rent. The Effective Rent was about $15 per square foot.
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 | Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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