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zman
21-09-2011, 15:05 PM
I was wondering if someone could help me.

I'm looking to acquire two properties, the current owners have leased them out since 1999 and 2007. I haven't got the full details of the leases - ie rents, duration etc - as yet, but I understand Landlor dand Tenant Act 1954 contains a formula to calculate the compensation due to a tenant if I want to evict them? This is quite complex (for me) to follow and I don't quite understand what R represents? would it be rent? or compensation?

Does anyone have some kind of idiot's guid to it? or any guidance I can refer to?

Many thanks.

MrJohnnyB
21-09-2011, 15:08 PM
The rules only apply to long leaseholds at a nominal rent rather than short lets at market rents. I assume you know this?!

zman
21-09-2011, 15:20 PM
thank you - I gathered that they only apply to tenancys of more than 21 yrs and where the max rent is less than £250 a year (in Birmingham), which I have reason to believe this is the case, but i haven't got much further than that.

zman
22-09-2011, 13:35 PM
I have now received confirmation that the tenants have had the lease for over 21 years. Is there any guidance as to how we can ask them to vacate/compensation payable for the lay person?