The phrase "low rent" refers to something that is inexpensive or cheap. It usually describes places to live or services that cost less money. Full definition
A small space with low rent seemed perfect until we realized we lacked sufficient cooking capacity and seating to generate enough profits for expansion. (entrepreneur.com)
The unusual arrangement with a private retailer probably will result in lower rent for the giant company. (bostonglobe.com)
Corporate tenants are taking advantage of lower rents to «right size» or consolidate their space. (nreionline.com)