Ground rent
Ground rent is like giving money to someone so you can keep something on their land. It's like giving the person who owns the land a little bit of money every year so you can keep your house or building or other things on their land.
It's kind of like paying to rent a parking spot, but instead of a parking spot, you're renting the land your house is on.
The person who owns the land gets the money from you every year, and in exchange, you get to keep your house or other things on their land. It's like a little bit of a trade - you get to use their land, and they get a little bit of money for it.
Sometimes, the person who owns the land can raise the rent over time, so you might have to pay more money later on. But this usually only happens after a long time, like many years.
Overall, ground rent is just a way to use someone else's land and pay them a little bit of money for it every year.
It's kind of like paying to rent a parking spot, but instead of a parking spot, you're renting the land your house is on.
The person who owns the land gets the money from you every year, and in exchange, you get to keep your house or other things on their land. It's like a little bit of a trade - you get to use their land, and they get a little bit of money for it.
Sometimes, the person who owns the land can raise the rent over time, so you might have to pay more money later on. But this usually only happens after a long time, like many years.
Overall, ground rent is just a way to use someone else's land and pay them a little bit of money for it every year.