What is rent? Rent—also known as the “consideration”Rental Agreement • November 5th, 2015
Contract Type FiledNovember 5th, 2015— is a periodic payment to the owner of property in exchange for its use. In the case of farmland it would be a payment to the landowner in exchange for the right to farm on the land. The payment is typically money, or has a value expressed in dollars, but can also be services (hours of labor provided to the landowner) or goods (farm products).