Gross Annual Value

Step 1. Expected Rent/Fair Rental Value where is higher, but subject to Standard Rent (we will come to terms later).

Step 2. If Actual Rent (you got) > Step 1, then Actual Rent.

Step 3. Where 2 applies (Actual Rent> Step 1) and If let out for part of the year or vacant, then actual rent for occupied period.