Glossary
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| Managing Agent | The Managing Agent is the person or firm appointed by the propertyowners to manage the property on behalf of the owners. Management instructions vary, but usually include collection of rent and insurance premiums payable from the tenant, together with service charge where applicable and inspections on a periodic basis to ensure the property has been maintained to a satisfactory standard. |
| Market Rent | The best rent at which a property might reasonably be expected to be let with vacant possession in the open market, with a willing landlord and tenant, taking full account of all terms of the tenancy offered. |
| Multiplier | A key factor in the calculation of the business rates bill. It is set annually by central government and determines the percentage (expressed as pence in the pound) of the rateable value of your property that you pay in business rates. Also referred to as the Uniform Business Rate, or poundage. |
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