The rent which a landlord/ owner is presumed to earn from a self-occupied property (SOP)- that is, in a situation where a landlord does not actually earn any rent. This rent is calculated depending upon the notional lease terms and taking into account current market rent/ current market rental value (CMR) of the property concerned.  This value indicator is typically determined by a surveyor against a fee, though surveyors may offer a free notional rent assessment to establish it if such a service is funded by market participants or organizing bodies.

The concept of notional rent is commonplace in situations where a practitioner occupies its own property for delivery of its services. In this sense, it is similar to the concept of opportunity cost in economics that entails that the value of all resources has to be factored in for calculation of cost, including those provided by an owner-user.

It is also known as a deemed rent or a notional rent reimbursement.