A very low or nominal rent.
the houses were let for a peppercorn rent
Example sentencesExamples
- While the fee represents a peppercorn rent for large consumer device manufacturers it's a toll nevertheless.
- The city council eventually bought the site and agreed to rent it out on a peppercorn rent for art and culture.
- Now they want to privatise it for a peppercorn rent of one pound.
- Payment of the peppercorn rent has been an annual ceremony ever since Henry Whistler, a London merchant, leased the Ouse-side structure from the city in 1677 to use as a water tower supplying York.
- She says: ‘The project relied on the council granting a peppercorn rent, and they sunk it by refusing.’