Current Rent

Current rent refers to the actual rental rate or amount that a tenant is currently paying for occupying a property, as specified in the lease agreement between the landlord (lessor) and the tenant (lessee). The tenant agrees to pay the current rent in exchange for the right to occupy the property for a specified time period, as outlined in the lease. Current rent may differ from market rent due to various factors, such as rent stabilization regulations, long-term leases, or concessions granted by the landlord. Monitoring the difference between current rent and market rent can help property owners identify opportunities to optimize their rental income and property value.