Notional rent is the reimbursed rent provided by Primary Care Organisations to Practices where the GPs own the premises. Notional rent is based on the current market rent of the premises. It requires re-assessment every three years by the District Valuer or a surveyor acting on behalf of the Primary Care Organisation.
The Cost Rent Scheme is no longer used. It previously existed for new extended or refurbished surgeries. However, many surgeries do still remain on this scheme, as this is how they have been historically reimbursed and have never swapped to Notional Rent. The Cost Rent Scheme, as its name implies, is more closely associated to the costs involved, as opposed to the associated rental levels. Its purpose was to reimburse the cost of finance from providing new or considerably modified buildings.
Assistance for Practices
Details of Surveyors who can assist Practices with rent reimbursement valuations.