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In-Place Rent
Rent charged under the leases currently in effect at a property, rather than an estimate of current market rent.
In-place rent is the rent charged under existing leases at a property. It reflects the agreed lease terms, rather than the rent a comparable space might command in the current market.
An in-place rent figure describes contractual pricing; it does not by itself prove that billed amounts were collected. Identify the reporting date, unit or area basis, and treatment of concessions when comparing rent figures.
Source: Adventures in CRE, In-place Rent.
Frequently Asked Questions
Is in-place rent the same as market rent?
No. In-place rent follows existing lease terms. Market rent estimates what the property could command under current market conditions.
More in Leasing
See all Leasing terms →Assignment of Lease
The complete legal transfer of an existing tenant's entire leasehold rights, obligations, and physical occupancy to a new incoming tenant.
Read definition →Base Rent
The fixed minimum monthly rent agreed upon in a lease agreement, excluding utilities, janitorial, or shared operating expense pass-throughs.
Read definition →Co-Tenancy Clause
A commercial lease clause granting rent reductions or termination rights if anchor tenants vacate or center occupancy falls below agreed levels.
Read definition →Concession
A rental concession is an allowance, such as a free-rent period or move-in credit, that reduces rental income.
Read definition →Continuous Operation Covenant
A commercial lease requirement obligating a retail tenant to keep its store open, fully stocked, and staffed during designated business hours.
Read definition →