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Rack Rent

Definition:

Rack rent refers to the full or highest rent that can be charged for a property.

Usage:

1. Noun: Rack rent can also be used to describe the excessive or exorbitant rent charged for a property.

Example Sentence: The landlord increased the rack rent by 20%, making it difficult for the tenants to afford.

2. Verb: Rack renting is the act of charging the maximum possible rent for a property.

Example Sentence: The landlord took advantage of the high demand for housing in the area and decided to rack rent his apartments.

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