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6 Gross rental income and service charge income

 

2019

2018

Theoretical rent

57,470

55,457

Incentives

(1,829)

(1,502)

Vacancies

(1,984)

(2,654)

Total gross rental income

53,657

51,301

The future contractual rent from leases in existence on 31 December 2019, until the end of the contract (accounted for on the basis of the minimum rent) can be analysed as follows:

 

2019

2018

First year

54,211

54,716

Second year

49,648

49,029

Third year

40,128

42,810

Fourth year

34,024

32,709

Fifth year

29,570

26,944

More than five years

140,013

155,157

Service charge income represents € 2.0 million (2018: € 2.1 million) income receivable from tenants for the services utilities, caretakers, etc. when the Fund acts as a principal.

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