Standard rent and fair rent

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Standard rent and fair rent:

Fair rent - It is the rent, a similiar property in the same or similar locality can fetch. Standard rent - It is fixed under the Rent Control Act where a higher rent than the standard rent cannot be expected by the owner. Actual rent -  It is the actual rent received/receivable by the owner by renting out the property.


What does Standard rent mean?

The standard rent is the rent, which would be permissible under the law to be charged to a tenant. The rent Act applies to premises let for residence, education, business, trades, storage, etc. Standard rent is the rent, which would be permissible under the law to be charged to a tenant.


What is fair rent value?

The amount the owner of property could reasonably expect to receive from a strange for the same type of lodging; generally, the ammount at home with its furnishings could be rented to  similar size family in a location.


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