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6 Gross rental income and service charge income

 

2016

2015

Theoretical rent

45,381

56,213

Incentives

(2,324)

(3,222)

Vacancies

(8,317)

(10,992)

Total gross rental income

34,740

41,999

The future contractual rent from leases in existence on 31 December 2016, until the end of the contract (accounted for on the basis of the minimum rent) can be analysed as follows:

 

2016

2015

First year

30,725

30,273

Second to fifth year

55,282

64,128

More than five years

5,588

12,089

Service charge income represents € 6.0 million (2015: € 7.8 million) income receivable from tenants for the services utilities, caretakers, etc. when the Fund acts as principal.

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