6 Gross rental income and service charge income
2022 | 2021 | |
Theoretical rent | 276,209 | 256,783 |
Incentives | (608) | (615) |
Vacancies | (4,369) | (5,763) |
Total gross rental income | 271,232 | 250,405 |
The Fund leases its property investments in the form of non-cancellable operating leases. The nature of the theoretical rent has an indefinite duration because there are no fixed contract periods. Service charge income amounted to € 7.6 million (2021: € 6.8 million) receivable from tenants for the services utilities, caretakers, etc. when the Fund acts as a principal.