Economic Rent
/ˌɛkəˈnɑːmɪk rɛnt/
Definitions
- (n.) Income earned from ownership or control of a resource beyond its opportunity cost, often without active effort or investment.
The landlord's income from leasing the property exceeded the property's maintenance costs, representing economic rent.
Forms
- economic rents
Commentary
Economic rent is distinct from contractual rent and is relevant in property and tax law, emphasizing returns above normal competitive levels due to scarcity or monopoly control.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.