Entry 2 senses · 2 variants Webster, 1913 Rack-rent /(răk"rĕnt`)/ · Rack·-rent · IPA n. v. t. 01 n. A rent of the full annual value of the tenement, or near it; an excessive or unreasonably high rent. 1. A rent of the full annual value of the tenement, or near it; an excessive or unreasonably high rent. 02 v. t. To subject to rack-rent, as a farm or tenant. 1. To subject to rack-rent, as a farm or tenant.