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there ways that seen rightRent and prosecute interpret are factors that ofttimes influence our lives in a major way. Many of us live in blooded apartments and indemnify a regular flash-frozen derive of specie any month to a person who owns the apartment that we call home. Those of us lucky [and rich] enough to own several houses often guide them out for a pre-determined amount of money which the occupants of these houses pay us every month. Thus every month, a certain amount of money changes hands in this manner. This process is repeated across the world by hundreds of millions of volume. The people who are not the actual owners of the set forth which they occupy and who pay money to guarantee their right of residence are called tenants tour the real owner who is compensated for renting out his premises is known as the landlord. The money that is paid every month by the tenant to the landlord is called rent. Rent can dash several forms but in this paper I am restricting the definition to include only the payment of money by the tenant to the landlord in consideration for a allowing the motive to occupy a house or a component part of a land or building which can then(prenominal) be used for commercial purposes.

It would an understatement to state that the issue of rent control has generated a passionate discussion amongst economists.



This is one case that is seen to be distinct from dry economic theories, and infact, the twin issues of rent control and governmental interference in the determining of rent rates have been responsible for establishing or bringing gloomy governments, both at the local and at the national level. stolon of all I would like to arrive at a basic understanding of the functions of rent and the meaning of rent control. Rents serve two functions essential to the efficient operation of lodgement markets and to the economy as a whole:

They compensate providers of animated housing units and developers of new units for the cost of providing shelter to consumers; and
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