1180. Meaning of 'low rent' for the purposes of Part I of the Leasehold Reform Act 1967.

Although the low rent test has been virtually repealed as a qualifying condition, as it is retained for some leases it is still necessary to examine the definition and the application of the test.

A tenancy1 of any property is2 a tenancy at a low rent at any time when rent is not payable under the tenancy in respect of the property at a yearly rate:

  1.  

    (1)     if the tenancy was entered into before 1 April 1990 or on or after that date in pursuance of a contract made before that date, and the property had a rateable value3 other