Description

Government rent valuation can refer to the valuation of property for rent, or the rent levied on property owners by the government: Valuation of property for rent The fair market value of a property when it's rented out under a lease. This is usually between 8% and 10% of the property's value, including construction and fixtures. If a tenant feels the rent is too high, they can take the landlord to court. Government rent A fee levied on property owners by the government under land leases. The amount of government rent can be fixed or vary depending on the property's rateable value. The Rating and Valuation Department collects government rent under the Government Rent (Assessment and Collection) Ordinance, while the Lands Department collects government rent under other ordinances. The Central Rent Control Act was introduced to oversee the renting out of properties and prevent exploitation of tenants or property owners. Each state has its own rent control act, but they are generally similar.