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Rent is the Consideration in the contract between Landlord and Tenant. Rent may be payable periodically (e.g., monthly), or may take the form of a 'fine' (see: Fineland and property), payable as a lump sum.
The nature of English contract law makes it difficult to support a contract with no consideration, and rent-free tenancies have often been problematic. Rent need not (in theory) be in the form of money to support the contract, but it must be of some value.