Property Valuation
Market rent is the rental income a property would command in the open market, while contract rent is:
AThe same as market rent by definition
BThe actual rent stipulated in the current lease agreement✓ Correct
CRent established by the local government
DRent paid in advance at lease signing
Explanation
Contract rent is the actual rent the tenant is currently paying per the lease. Market rent is what the property could command if leased at current market conditions.
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