We have made every effort to keep our website free of jargon but realise some words, phrases and acronyms may need further explanation. Our glossary contains definitions for business and financial terms used throughout this site.

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Passing rent
Passing cash rent. The estimated annual rent receivable as at the reporting date which includes estimates of turnover rent and estimates of rent to be agreed in respect of outstanding rent review or lease renewal negotiations. Passing cash rent may be more or less than the ERV (see over-rented, reversionary and ERV). Passing cash rent excludes annual rent receivable from units in administration save to the extent that rents are expected to be received. Void units and units that are in a rent-free period at the reporting date are deemed to have no passing cash rent.

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