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High Quality Content by WIKIPEDIA articles! Rental value is the Fair market value of Property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor under a license to real property. In the science and art of Appraisal, it is the amount that would be paid for rental of similar real property in the same condition and in the same area. In a contract lawsuit, the lessor could collect the rental value of the premises from the saloon lessee who had violated a lease. Usable value is not the same as rental value, but is equivalent, and has been used in a condemnation proceeding. Rental value can also be used in a divorce, separation, or annulment action for equitable distribution, in those states lacking Community property laws.
Lambert M. Surhone
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