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Financial statements

6 Gross rental income and service charge income

 

2016

2015

Theoretical rent

48,498

42,001

Incentives

(1,165)

(850)

Vacancies

(2,547)

(2,433)

Total gross rental income

44,786

38,718

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

 

2016

2015

First year

46,862

41,897

Second to fifth years

169,366

147,815

More than five year

132,290

54,627

Service charge income represents € 1.8 million (2015: € 2.0 million) income receivable from tenants for the services utilities, caretakers, etc. when the Fund acts as a principal.

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