Overage Income

Rental which exceed the base rate. May be from a percentage of the tenant's income (see: percentage) or some other formula (e.g. for a gasoline service station, a common overage would be x cents per gallon over x gallons per month, but nothing on repairs and the sale of other products such as oil, tires, etc.).

Real Estate Practice Test - Pass Your Real Estate Exam Now!
RealEstatePracticeTest

More Real Estate Definitons