abatement
The ending, reduction, or lessening of something; a deduction or discount, especially regarding rent or taxes.
In commercial real estate, a 'rent abatement' is a period during which the tenant is legally excused from paying rent, often granted during construction or after a disaster.
Word relationships
- reduction: 'Reduction' is a general term for making something smaller, while 'abatement' is a formal legal term for suppressing or suspending a charge or nuisance.
- rebate: A 'rebate' is a return of part of a payment already made, whereas an 'abatement' is a reduction applied before the payment is due.
- surcharge: A surcharge is an additional charge or tax added to the base cost.
Commonly confused with
- concession: A concession is any incentive offered by a landlord (including cash or free parking). An abatement is specifically a reduction or suspension of rent or taxes.
Word family
- abate (verb): To become less intense or widespread; to reduce.
Collocations
- rent abatement
- tax abatement
- noise abatement
- asbestos abatement
Example sentences
- "If the premises are damaged by fire, the tenant shall be entitled to a proportional abatement of rent until repairs are completed." A lease clause dealing with property damage.
- "The city council offered a ten-year property tax abatement to any developer willing to build affordable housing downtown." A city program to attract businesses.
Memory hook
An aBATEment is like a BATE (bait) that lowers the cost of rent to catch a tenant. Abatement: beating down the cost of rent or taxes.
When not to use
Do not use 'abatement' for a permanent price cut; it implies a temporary or specific reduction of an ongoing cost.
Fun facts
- The term 'abatement' is also used in environmental law. 'Asbestos abatement' refers to the highly regulated process of safely removing hazardous asbestos from older buildings.
Related words
Explore more words
Marginal, Rebate, remediation, reduce, mitigation, alleviate
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