Regulated tenancies (also known as protected, statutory or fair rent tenancies) granted under the Rent Act 1977 (RA 1977) were the principal form of private sector tenancy of residential property until 15 January 1989. Tenancies granted on or after 15 January 1989 (when the Housing Act 1988 came into force and assured tenancies became the most common form of private sector residential tenancy) can only fall within RA 1977 in very limited circumstances. However, a significant number of protected tenancies remain and, if not correctly identified, they can result in a buyer of property subject to a regulated tenancy overpaying for the property and being unable to obtain vacant possession. Tenancies regulated by RA 1977 are extremely secure and, in most cases, the landlord must wait for the tenant to leave, although it may be possible to reach an agreement with the tenant to leave in return for a financial inducement. Note that, while various forms of tenancies and licences of residential properties in Wales were abolished under the Renting Homes (Wales)

Statute limits the amount that can be recovered from tenants of dwellings by way either of service charges (which include insurance rent) or administration charges. In both cases, the landlord can recover no more than is ‘reasonable’, notwithstanding any contrary provision in the lease. The landlord’s ability to forfeit the lease for non-payment is also subject to statutory control, but this is outside the scope of this Practice Note (see Practice Note: Statutory limitations on the landlord’s right to forfeit a long residential lease). Sections 18–25 of the Landlord and Tenant Act 1985 (LTA 1985) cover limitations to, and the reasonableness of, service charges, requests for summary of relevant costs, effects of change of landlord and assignment, as well as providing for an offence of failure to comply. The provisions apply to all dwellings and cover all residential leases, except where LTA 1985, s 26 applies. Section 26 provides for an exception in the case of tenants of certain public authorities. This Practice Note looks at the key statutory restrictions

An appraisal of land based on a potential development scheme.

[means GHG Emissions [from all operations of [insert name of party] including value and supply chains] that are emitted after all reasonable efforts have been made [by the party] to reduce GHG Emissions[ from all operations including value and supply chains]. OR are any GHG Emissions which remain after a project or organisation has implemented all technically and economically feasible opportunities, as determined by a Climate Professional as part of a Carbon Footprint assessment, to reduce emissions in all scopes and from all sources.]

A valuation of land using a development appraisal (see Development Appraisal).

Firms will often hold money on behalf of clients and, usually, client money will be used in the process of carrying out the matter or returned to the client. However, this is not always the case and sometimes there will be money left over in circumstances where the client has become untraceable or where it has not been possible to return the money to the client. This is a residual balance. Residual balances can arise for a number of reasons, including: • balances inherited on a merger with another firm • client (in)action, eg cheques that have been sent to the rightful owner but never cashed by them, clients who will not provide instructions on how to deal with the balance, clients who have died where the executors or family are unknown and clients who have simply disappeared and cannot be traced • retention money that has remained unclaimed • post-transaction credits—historically some practice management systems permitted the accounts team to reopen an archived file, post credits and cheques not presented and then close it again—this may then not be reported on and even if it is, it can be difficult to engage your fee earners if balances were at zero when they last had physical custody of the file • poor housekeeping, eg untidy bookkeeping, inefficient accounting systems, or incorrect application of disbursements

This form should be completed by the person responsible for deciding how to deal with the residual balance in question. 1 Client and matter Name of client (if known) [[Insert]OR☐ Not known] Client reference (if known) [[Insert]OR☐ Not known] Matter reference (if known) [[Insert]OR☐ Not known] Fee earner (if known) [[Insert]OR☐ Not known] Description of matter to which residual balance relates (if known) [[Insert]OR☐ Not known] Is file available to be checked? ☐ Yes☐ No☐ Not known 2 Money held Amount or residual balance £[insert] How long have funds been held? [[Insert]OR☐ Not known] Is the

This Residual balances register enables you to comply with the requirements of the SRA Accounts Rules, to keep a central register of residual balances. It is intended for use by law firms. Please click to download this register. Please note that this register has been prepared in Excel and it therefore cannot

This Practice Note sets out the requirements of the SRA Accounts Rules 2019, in force from 25 November 2019, regarding residual balances. It also reflects the SRA’s mandatory Statement on the prescribed circumstances in which you can withdraw client money from client account to pay to a charity of your choice. See also Practice Note: How to manage a residual balances project. Suggested procedures for dealing with residual balances are contained in Precedents: Accounts manual for accounts or finance team—law firms and Accounts manual for staff—law firms. See also Precedents: • Residual balance record • Residual balances register • Residual balance—monitoring review What is a residual balance? Firms will often hold money on behalf of clients—this is known as client money (see below: Definition of client money). Usually client money will be used in the process of carrying out the matter or returned to the client. However, this is not always the case and sometimes there will be money left over in circumstances where the client has become untraceable or where it has not been possible

1 General information Date of review [insert date] Person conducting review [insert name] Period to which this review relates [Insert period, eg past quarter or past year] 2 Review and findings Is your residual balance register up-to-date? ☐ Yes☐ No(If no, ensure you set an action point at section 3) For each outstanding residual balance on the register, have you:—made reasonable attempts to establish the rightful owner of the money?—taken reasonable steps to return the money to the rightful owner?—recorded the steps taken to return the money

The amount remaining once the GDC of a scheme is deducted from its GDV and an appropriate return has been deducted.

Where an employee has given notice to the employer to terminate the employment relationship.