Rental value is the Fair market value of Property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor (landlord) under a license to real property. ^[1] In the science and art of Appraisal, it is the amount that would be paid for rental of similar real property in the same condition and in the same area. ^{[2] [3]}

In a contract lawsuit, the lessor could collect the rental value of the premises from the saloon lessee {tenant) who had violated a lease. ^[4] Usable value is not the same as rental value, but is equivalent, and has been used in a condemnation proceeding. ^[5]

Rental value can also be used in a divorce, separation, or annulment action for equitable distribution, in those states lacking Community property laws.

References

1. ↑ Ballentine's Law Dictionary, p. 450.
2. ↑ Free legal dictionary
3. ↑ Law dictionary online
4. ↑ Geolet v. National Insur, Co., 164 N.E. 101, 62 A.L.R. 425, Landlord & Tenant (key #) 184(1)(year?).
5. ↑ Reisert c. City of New York, 66 N.E. 731, 174 N.Y. 196 (year?).

See also

• Appraisal
• Capitalization rate
• Fair market value
• Gross Output
• Gross Rent Multiplier
• Mesne
• Minimum lease payments
• Operating surplus
• Present value