rack rent

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Noun1.rack rent - an extortionate rent
rent - a payment or series of payments made by the lessee to an owner for use of some property, facility, equipment, or service
References in periodicals archive ?
An investigation found the letting agent, Luckey Lettings, didn't manage the property with the rack rent directly sent to the two owners.
A prime rack rent Open A1 non-food retail park with 10 years-plus on the lease would attract an initial yield of around 5.
In case you didn't know, a rack rate is the published room rate in a hotel, whereas a rack rent is the highest annual rent at which a property can be let.