- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
5.—(1) Subject to paragraphs (2) and (3), the amount of compensation payable for qualifying improvement work shall be—
where—
=
the cost of the improvement work from which shall be deducted the amount of any grant made—
=
the notional life of the improvement effected by the work; and
=
the number of years starting on the date on which the improvement was completed and ending on the date on which the tenancy ends and for the purposes of this paragraph part of a year shall be counted as a year.
(2) Where—
(a)the cost of the improvement work was excessive;
(b)the improvement effected by the work has deteriorated at a rate greater than that provided for in the notional life for that improvement;
(c)the improvement effected by the work is of a higher quality than it would have been had the landlord effected it; or
(d)the improvement effected by the work has deteriorated at a rate lower than that provided for in the notional life for that improvement,
the landlord may in the case of sub paragraphs (a), (b) and (c) above deduct from and in the case of sub paragraph (d) above add to, the amount of compensation calculated in accordance with paragraph (1) such sum as is reasonable in order to take into account that sub-paragraph (a), (b), (c) or (d) applies notwithstanding in the case of sub-paragraph (d) that otherwise the amount of compensation calculated in accordance with paragraph (1) would be nil.
(3) Compensation shall not be payable to the extent that the amount of compensation would exceed £3,000 per improvement.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include: