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The 33 Year Rule(Old Shared Ownership And Tenancies)

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Hi

Altho I'm not new to this forum, it may look like, with the divvy or best, obscure questions. This one is concerning shared ownership (sorry,) but may also concern other categories of social rent.

I have it in my head that, after 33 years, a rent set by the fair rent act can be reviewed and increased in the light of current values.

The reason I'm so interested, is that I'm buying a lease, which is 31 years old, (built @1982, and therefore very short).

I remember a while back researching when a rent can be substantially increased, and that figure came up, but can't find the original article.

I know that Thatcher changed the tenancies in the 80s, but does anyone out there know of this rule? Is a protected rent liable to open market values after 33 years, or it just a bad dream? :rolleyes:B)

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