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passing rent

English translation: actual amount that passes from tenant to landlord under terms and conditions of lease

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13:26 Apr 9, 2013
English to English translations [PRO]
Bus/Financial - Real Estate
English term or phrase: passing rent
Hello everyone

My question is: where does the term "passing rent" come from? In other words, what does "pass" have to do with "passing rent"?

Thanks
Samuel Murray
Netherlands
Local time: 05:56
English translation:actual amount that passes from tenant to landlord under terms and conditions of lease
Explanation:
I do understand your difficulty, i.e. in the term "passing rent", just what is it that is actually "passing"? All the definitions available simply provide an explanation of what the term refers to, without actually explaining why it is "passing", and not, say, simply "current" or "existing" or "acutally payable", etc.

It has been extremly difficult to find any explanation at all of the origin of the term, but this is my best shot.

First of all, some more definitions:

passing rent (i.e. the rent that the tenant is currently contracted to pay to the landlord).
http://books.google.co.uk/books?id=fc8CkwyoApAC&pg=PA60&lpg=...

Passing (or contract): The rent specified by a given lease agreement; although a given contract rent may equate to the Market Rent, in practice they may differ substantially, particularly for older leases with fixed rental terms. The term, contract rent is North American usage; passing rent is Commonwealth usage. (IVSC)
http://www.commerce.wa.gov.au/consumerprotection/PDF/Reports...

Passing rent is simply the current contractual rent on the property, expressed in annual terms.
http://www.7dials.com/pages.asp?id=82

The most common form of rent review provision is still what is referred to as an upwards-only review to open market rent. This means that on each designated review date, the rent will be reviewed by comparing the rent actually payable under the lease on that date (the passing rent) with the rent that would be obtained if the Property had been marketed and was being re-let on similar terms on that date (the hypothetical letting).
http://www.practicalconveyancing.co.uk/content/blogcategory/...

I'm not at all sure about this, but believe that "passing" might refer to the fact that the rent or payment "passes" from the tenant to the landlord.

Among the many things that are negotiated, there are several issues that are critical in determining the timing of payments and the amount of cash that passes from the tenant to the landlord during the lease term.
http://books.google.co.uk/books?id=PcwFrMTdFTYC&pg=PA174&lpg...

The tax is based upon the open market value of the property and not the current rent passing between the tenant and the landlord.
http://www.fig.net/commission7/verona_am_2008/papers/12_sept...

I don't think "current rent" on its own is sufficient. Try Googling ""current passing rent" and see how many hits you get.
Selected response from:

Alison MacG
United Kingdom
Local time: 04:56
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
3rent from a sub-let
Shera Lyn Parpia
2actual amount that passes from tenant to landlord under terms and conditions of lease
Alison MacG
Summary of reference entries provided
An idea...?
Tony M
Some clues
AllegroTrans

Discussion entries: 8





  

Answers


17 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
rent from a sub-let


Explanation:
You rent a house, and then rent it to someone else (sub-let). You take the rent your tenant pays you and pass it on to your landlord. THe rent passes from one person to another through you. That is in my opinion what passing rent means here.

see meaning 3 here
http://www.macmillandictionary.com/dictionary/british/pass-o...



Shera Lyn Parpia
Italy
Local time: 05:56
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: Your ref doesn't deal with the term as a whole: can you give a ref. to show that there has to be a sub-letting please?
2 hrs
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21 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
actual amount that passes from tenant to landlord under terms and conditions of lease


Explanation:
I do understand your difficulty, i.e. in the term "passing rent", just what is it that is actually "passing"? All the definitions available simply provide an explanation of what the term refers to, without actually explaining why it is "passing", and not, say, simply "current" or "existing" or "acutally payable", etc.

It has been extremly difficult to find any explanation at all of the origin of the term, but this is my best shot.

First of all, some more definitions:

passing rent (i.e. the rent that the tenant is currently contracted to pay to the landlord).
http://books.google.co.uk/books?id=fc8CkwyoApAC&pg=PA60&lpg=...

Passing (or contract): The rent specified by a given lease agreement; although a given contract rent may equate to the Market Rent, in practice they may differ substantially, particularly for older leases with fixed rental terms. The term, contract rent is North American usage; passing rent is Commonwealth usage. (IVSC)
http://www.commerce.wa.gov.au/consumerprotection/PDF/Reports...

Passing rent is simply the current contractual rent on the property, expressed in annual terms.
http://www.7dials.com/pages.asp?id=82

The most common form of rent review provision is still what is referred to as an upwards-only review to open market rent. This means that on each designated review date, the rent will be reviewed by comparing the rent actually payable under the lease on that date (the passing rent) with the rent that would be obtained if the Property had been marketed and was being re-let on similar terms on that date (the hypothetical letting).
http://www.practicalconveyancing.co.uk/content/blogcategory/...

I'm not at all sure about this, but believe that "passing" might refer to the fact that the rent or payment "passes" from the tenant to the landlord.

Among the many things that are negotiated, there are several issues that are critical in determining the timing of payments and the amount of cash that passes from the tenant to the landlord during the lease term.
http://books.google.co.uk/books?id=PcwFrMTdFTYC&pg=PA174&lpg...

The tax is based upon the open market value of the property and not the current rent passing between the tenant and the landlord.
http://www.fig.net/commission7/verona_am_2008/papers/12_sept...

I don't think "current rent" on its own is sufficient. Try Googling ""current passing rent" and see how many hits you get.

Alison MacG
United Kingdom
Local time: 04:56
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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Reference comments


26 mins
Reference: An idea...?

Reference information:
This ref. (which I haven't investigated further) looks as if it might go part way to explaining where it comes from:

PLC - Passing rent

property.practicallaw.com/6-107-6977

The phrase is often used in alienation covenants where a tenant covenants not to grant an underlease at a rent less than the rent passing under the headlease ...

Tony M
France
Specializes in field
Native speaker of: Native in EnglishEnglish
Login to enter a peer comment (or grade)

5 hrs
Reference: Some clues

Reference information:
PLC - Passing rent
The phrase is often used in alienation covenants (www.practicallaw.com/A35801) where a tenant covenants not to grant an underlease at a rent less than the rent passing ...
property.practicallaw.com/6-107-6977 - Cached


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Note added at 5 hrs (2013-04-09 19:00:45 GMT)
--------------------------------------------------

Passing rent
The current rent paid to the landlord by the tenant who holds the property.
Found op http://www.encyclo.co.uk/local/20698

AllegroTrans
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
Note to reference poster
Asker: So, would you be satisfied to replace "passing rent" in a text with e.g. "current rent"?

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