Not a fair explanation
Murdoch, S.
Not a fair explanation - 2003 - Estates Gazette (0344) 1 November 2003, 167(1) .
Although the number of properties subject to Rent Act tenancies is diminishing, the way in which fair rents are assessed for those remaining, continues to be significant. Fair rents are normally determined by reference to market rents from assured shorthold tenancies as comparables, using physical differences in properties, tenants' improvements and scarcity for discounting down to a fair rent for the subject property. In the recent decision "R v London Rent Assessment Committee ex p Wolters (London) Ltd" ([2003] EWHC 1465 (Admin), Abs67271), the respondent Rent Assessment Committee (RAC) failed to provide adequate reasons for and explanation of the way it made its adjustments. In particular, in its treatment of discounts for scarcity, it did not explain properly the locality being used to ensure that it is not discounting for amenity rather than disregarding scarcity. The RAC's decision was quashed and remitted for re-determination.
DISCOUNTS
MARKET RENTS
SCARCITY
AMENITY VALUE
RENT ACT 1977
FAIR RENTS
RENT ACT 1977 S70(2)
RENT ACT TENANCIES
ASSURED TENANCIES
ASSURED SHORTHOLD TENANCIES
R V LONDON RENT ASSESSMENT COMMITTEE AND OTHERS EX P WOLTERS (LONDON) LTD
Not a fair explanation - 2003 - Estates Gazette (0344) 1 November 2003, 167(1) .
Although the number of properties subject to Rent Act tenancies is diminishing, the way in which fair rents are assessed for those remaining, continues to be significant. Fair rents are normally determined by reference to market rents from assured shorthold tenancies as comparables, using physical differences in properties, tenants' improvements and scarcity for discounting down to a fair rent for the subject property. In the recent decision "R v London Rent Assessment Committee ex p Wolters (London) Ltd" ([2003] EWHC 1465 (Admin), Abs67271), the respondent Rent Assessment Committee (RAC) failed to provide adequate reasons for and explanation of the way it made its adjustments. In particular, in its treatment of discounts for scarcity, it did not explain properly the locality being used to ensure that it is not discounting for amenity rather than disregarding scarcity. The RAC's decision was quashed and remitted for re-determination.
DISCOUNTS
MARKET RENTS
SCARCITY
AMENITY VALUE
RENT ACT 1977
FAIR RENTS
RENT ACT 1977 S70(2)
RENT ACT TENANCIES
ASSURED TENANCIES
ASSURED SHORTHOLD TENANCIES
R V LONDON RENT ASSESSMENT COMMITTEE AND OTHERS EX P WOLTERS (LONDON) LTD