Definition: The rent a property would command in the open market as of a specified date under the assumed lease terms.
Example
Comparable available apartments support an estimated market rent of $1,800 per month.
Keep the distinction clear
Market rent is an estimate based on relevant evidence. An existing contract may require more or less, and concessions and expense responsibilities affect comparability.
Related terms
Lease · Comparable Property · Income Approach
Keep studying
References: California DRE: appraisal and valuation
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