What is a Statutory or Fair Rent Tenancy?
If you have a Statutory or, as it is sometimes referred to, a ‘Fair Rent’ Tenancy, you enjoy a right to remain in occupation of your property. Such tenancies are no longer granted, but old ones do still exist. (Most Statutory Tenancies around today came about following the expiry of a former tenancy granted under the Rent Act 1977).
Statutory tenancies give their holders a personal right (subject to certain conditions) to remain in occupation of a house or flat for as long as they wish, provided they continue to pay their rent and comply with the other conditions of their tenancy.
What is a ‘Fair Rent’?
A Fair Rent is a rent that is fixed from time to time by a rent officer. It is the rent that it is considered a house or flat would let for in the ‘open market’. (An ‘open market’ is defined as assuming that both supply and demand are equal, and not taking into consideration any improvements undertaken by a tenant that may affect the rental value of the dwelling).
If either landlord or tenant is dissatisfied with a rent officer’s decision they can appeal to a Rent Assessment Tribunal. Here they have an opportunity to put their case, or instruct a professional adviser (who may be a surveyor or a lawyer) to put the case for them.
As a Statutory Tenant can I sell my tenancy, let, or alter my home?
A Statutory Tenancy is really a personal right to remain in occupation of a dwelling and will therefore be ended if you vacate your home. However you may be able to make physical alterations such as laying a wooden floor or if the need arises, fitting a stair lift. Should you wish to find out more about this, please contact our Building Surveying Department.