Not a fair explanation
Series: Estates Gazette ; (0344) 1 November 2003, 167(1)Publication details: 2003Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS67272 (Browse shelf(Opens below)) | 1 | Available | 124462-1001 |
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.