rack rent
noun[C]
PROPERTYukusarentthat isagreedbetween theownerof apropertyand thepersonrentingit,ratherthan beingfixedorcontrolledbylaw:
Thetermsof theleasemayprohibitlettingexceptat arackrent.
It isimportanttoascertainif anyrentfreeperiodis toincludenot only therackrentbut alsoservicechargesand/orinsurancepremiums.
US
anunfairlyhighlevelofrent