Another term for market rent is what type of rent?

Market rent is often referred to as economic rent, which represents the amount of money a property could generate under typical market conditions, reflecting the value of the property in its current state and location. Economic rent indicates the rental level that a willing tenant would pay and a willing landlord would accept in the open market, without any undue influences or regulatory constraints.

This concept focuses on the prevailing conditions of supply and demand for rental properties, meaning that economic rent serves as a benchmark to understanding the performance of real estate in the marketplace. It allows appraisers to assess the viability of a rental property and whether it's priced competitively compared to similar properties.

Other terms like contract rent or fair rent possess specific definitions that do not align with the broader concept of market rent. Contract rent refers to the rent specified in a lease agreement, while fair rent usually pertains to government regulations concerning rent control, defining permissible rental charges to protect tenants. Premium rent would imply an above-market rate, typically associated with luxury properties or unique offerings. Therefore, economic rent stands as the most appropriate synonym for market rent in this context.