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The three forms of property income are rent, received from the ownership of natural resources; interest, received by virtue of owning financial assets; and profit, received from the ownership of capital equipment. [1] As such, property income is a subset of unearned income and is often classified as passive income.
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. [1] In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location and for assets formed by creating official privilege over natural opportunities (e.g., patents).
Where Y is output, c is the per capita consumption of private goods, and G is the aggregate consumption of local public goods reflected by its government expenditure on its provision. Land rents in this model are calculated using the ‘Ricardian rent identity,’ (See Luigi Pasinetti’s “A Mathematical Formulation of the Ricardian System,”):
Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth.
This concept is usually termed economic rent but when referring to rent in natural resources such as coastal space or minerals, it is commonly called resource rent. It can also be conceptualised as abnormal or supernormal profit. In practice, identifying and measuring (or collecting) resource rent is not straightforward.
A resource rent tax is a tax on the rents gained on the exploitation of a resource. [ 1 ] [ 2 ] [ 3 ] It can cover both renewable and non-renewable resources. It is classically understood to be a tax on the surplus value generated by resource exploitation beyond the necessary costs of production (which includes rewards to capital). [ 1 ]
Aggregate income [1] [2] [3] is the total of all incomes in an economy without adjustments for inflation, taxation, or types of double counting. [4] Aggregate income is a form of GDP that is equal to Consumption expenditure plus net profits. 'Aggregate income' in economics is a broad conceptual term.
Net Effective Rent, sometimes Net Effective Rate, or NER for short, is a measure of the expected income from a tenant, seen mostly in commercial real estate. It is the net present value of all the rental payments over the period of the lease, as well as any abatements or incentives that might add to or lower these payments.