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Room and board is a phrase describing a situation in which, in exchange for money, labour or other considerations, a person is provided with a place to live as well as meals. It commonly occurs as a fee at higher educational institutions, such as colleges and universities; it also occurs in hotel-style accommodation for short stays.
In the 19th century, between a third to half of urban dwellers rented a room to boarders or were boarders themselves. [4] In New York in 1869, the cost of living in a boarding house ranged from $2.50 to $40 a week. [3] [a] Some boarding houses attracted people with particular occupations or preferences, such as vegetarian meals. [3]
Rent Control: Regulation and the Housing Market. Center for Urban Policy Research, ISBN 0-88285-159-4. McDonough, Cristina (2007). "Rent Control and Rent Stabilization as Forms of Regulatory and Physical Taking." Boston College Environmental Affairs Law Review, Vol. 34 pp. 361–85. Niebanck, Paul L., editor (1986). The Rent Control Debate.
Rent stabilization sets maximum rates for annual rent increases and, as with rent control, entitles tenants to receive required services from their landlords along with lease renewals. The rent guidelines board meets every year to determine how much the landlord can charge. Violations may cause a tenant's rent to be lowered. [4]
If an operating lease has scheduled changes in rent, normally the rent must be expensed on a straight-line basis over its life, with a deferred liability or asset reported on the balance sheet for the difference between expense and cash outlay. [6] Under a capital lease, the lessee does not record rent as an expense.
This model is also used in the residential space, but mostly for small units in high-demand locations. Here, the company signs a rental agreement with the owner and pays them a fixed rent. As per the agreement, the company is given the right to sublet the property for a higher rent. The company's income is the difference between the two rents.
Enjoy a classic game of Hearts and watch out for the Queen of Spades!
The supplements make up the difference between rental "market price" and the amount of rent paid by tenants, for example 30% of the tenants income. A notable example of a rent supplement in the United States is Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f).