rack-rent definition
rack-rent in relation to any property means a rent which is not less than two- thirds of the rent at which the property might reasonably be expected to let from year to year free from all usual tenants’ rates and taxes, and deducting therefrom the probable average annual cost of the repairs, insurance and other expenses (if any) necessary to maintain the same in a state to command the rent.
rack-rent means rent which is not less than two-thirds of the full net annual value of the property out of which the rent arises; and the full net value shall be taken to be the rent at which the property might reasonably be expected to let from year to year, free from rates and taxes and deducting therefrom the probable average annual cost of the repairs, insurance, and other expenses (if any) necessary to maintain the same in a state to command such rent;
rack-rent means a rent which is not less than two-thirds of the full net annual value of the premises.
More Definitions of rack-rent
rack-rent. , in relation to a house, means a rent which is not less than two-thirds of the net annual value of the house, or a rent which has been fixed in accordance with the Rent (Northern Ireland) Order 1978 ;
rack-rent means rent representing the value of the land and the buildings on the land; and
rack-rent means a rent which is not less than two-thirds of the full net annual value of the premises (section 263(2) Housing Act refers). This is broadly two thirds of the market rent.
rack-rent means a rent which is not less than two-thirds of the net annual value of the dwelling, or a rent which [F4is recoverable by virtue of the Private Tenancies (Northern Ireland) Order 2006];
rack-rent means a rent which is not less than two-thirds of the net annual
rack-rent means the ‘full amount which a landlord can reasonably be expect to get from a tenant’ having regard to
rack-rent means a rent which is not less than two-thirds of the net annual value of the dwelling, or a rent which has been fixed in accordance with the Rent (Northern Ireland) Order 1978 (NI 20);