rack rent

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Noun

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

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References in periodicals archive ?

One was to sell "rack rent shops" which predominately have independent traders usually in post-war retail parades.

Council 'isn't selling the familysilver' to save cash

An investigation found the letting agent, Luckey Lettings, didn't manage the property with the rack rent directly sent to the two owners.

GP fined for health and safety breaches

A prime rack rent Open A1 non-food retail park with 10 years-plus on the lease would attract an initial yield of around 5.25% and a prime bulky park would be in the order of 6%.