Meaning of the word "Monthly Rent" in English

What does "Monthly Rent" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Monthly Rent

US /ˈmʌnθli rɛnt/
UK /ˈmʌnθli rɛnt/

Noun

the amount of money paid each month for the use of a property or land

Example:
The monthly rent for this apartment is $1,200.
We need to pay the monthly rent by the fifth of each month.