Define: Rent Abatement

How is Rent Abatement defined in a legal contract?

• Rent Abatement means an arrangement between two parties, where the requirement for rent payments is temporarily suspended, and the suspended payments are not due for repayment later. Seen in 5 SEC filings
• Rent Abatement means the reduction in rent payable under a contract due to the enforcement of a right to decrease rent by either party. Seen in 4 SEC filings
• Rent Abatement means the temporary cessation or reduction of rental charges, due upon damage to the rented premises from an unexpected event like fire. This reduction is applicable proportionately to the unoccupied portion of the premises from the date of the damage until the landlord substantially completes the necessary repairs, given that the tenant has not occupied the damaged part during this period. Seen in 3 SEC filings
• Rent Abatement means the temporary suspension of rent payment for specific months of the leasing term given that the tenant is not in material breach of the lease, and no due rent is unpaid. The tenant is not obligated to pay the landlord any basic rental for these specified months. Seen in 3 SEC filings
• Rent Abatement means the reduction in base rent payable under a lease, either due to the tenant's or owner's right to decrease rent in case of condemnation, or, when the lease does not specifically provide such right, due to a final, non-appealable judgment or order allowing such a reduction. Seen in 2 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of rent abatement' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Rent Abatement means a pre-agreed temporary suspension or reduction of rent due to specific conditions, without subsequent repayment.

Relevant Contract Types

• Lease Agreement
• Commercial Lease Agreement
• Residential Lease Agreement
• Office Lease Agreement

Relevant Circumstances

• Damage to the property from unexpected events such as fire
• Periods of extensive property renovations
• Situations where the tenant may be temporarily unable to secure full use of the property

Relevant Sectors

• Real Estate
• Retail
• Hospitality

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Genie Definition 2

• Rent Abatement means a final, non-appealable judgement-induced rent reduction due to circumstances such as property condemnation.

Relevant Contract Types

• Lease Agreement
• Commercial Lease Agreement
• Triple Net Lease Agreement

Relevant Circumstances

• Condemnation of the property
• Disputes over rent payment or increase
• Unlivable conditions forcing the tenant to vacate

Relevant Sectors

• Real Estate
• Legal
• Construction

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