Rent is the consideration payable for the use of tangible assets i.e. Building and machinery etc.
Royalty is the consideration payable for the use of special right in a tangible or intangible asset.
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Rent and Royalty are added in national income under income method.
Untrended NOI Definition
Profit=any money made after expenses Rent=someone pays to use a property you own.
rent : money is paid to use another individual's property/ belongings (apartment, home, furniture, etc.) fare : money is paid to travel (bus ride, plane, etc.)
Generally, the phrase "property to rent" refers to any of a number of rental property types, such as apartments, houses, office buildings, acreage and more. A flat is a common term used to denote a single-floor apartment, as opposed to a townhouse or freestanding house, so the phrase "flats to rent" refers to only apartments.