What is the effective rental value after 1st January 2000 under the Control of Rent (Repeal) Act 1997?
If the tenant wishes to remain in occupation of the premises after the expiry of such transitional period, then he is to pay a rental at the market value. The amount of rental payable by the tenant should be clearly stated in the letter. The tenant will have to decide whether to accept such a fresh tenancy paying a rental at the market rate, which will certainly be much higher than the fair rent.
In case the landlord intends to recover vacant possession of the premises soon after the expiry of the transitional period, he may notify the tenant in the same letter that a fresh tenancy can be entered into for a period of not more than three months only, ending on 31 March 1997, and as the landlord wishes to exercise his right to vacant possession, the tenant is to vacate the premises thereafter.
This may serve as to satisfy the legal requirement to provide for a period of three months for the tenant to vacate the premises.
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|Knowledge Base ID
||May 31, 2001
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