The rateable value is our assessment of the annual rent a business property could be let for on the valuation date. For properties like shops, offices or warehouses we can analyse actual annual rents to reach a rateable value.

With hotels, guest houses and bed & breakfasts, we can sometimes use actual annual rents, but otherwise we use fair maintainable trade to work out the rateable value.

• For large hotels, we use the standard valuation system approach based on fair maintainable trade.
• For small hotels, guest houses and Bed & Breakfasts we work out the rateable value based on the number of double bed units in the property. We apply a price per bed unit on each individual property, based on its type, size and location, to produce its rateable value.

How do we work out the price per bed unit?

The price per double bed unit is worked out by looking at actual annual rents.