Renewal Option, Rent, Rent Control, Reopener Provision




Renewal Option, Rent, Rent Control, Reopener Provision :




Renewal Option : a one’s right of keeping a contract effective on the event of meeting of certain options



Rent : the sum paid in return of using a property : the income or profit earned from the proprietorship of land



Rent Control : the local regulations that act towards establishing or fixing the highest rent that an owner may be charged for certain dwellings or the maximum amount that can be raised from one lease period to another



Reopener Provision : a clause in a collective bargaining agreement that empowers any of the two parties to use its right of renegotiating some parts of the contract before it expires, often on the meeting of certain conditions, for instance an excessive increase in the Consumer Price Index




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