ABSTRACT
The income approach to property valuation centres particularly on the relationship between landlord and tenant. This chapter examines several of the valuation problems raised by this relationship.
Premiums A premium is a lump sum paid by a tenant to a landlord in consideration for a lease granted at a low rent, or for some other benefit. ‘At a low rent’ signifies a rent below market rental value, and the other benefits will be as a rule, financial, having the same effect as a reduction in rent.
