Our extensive experience and thorough knowledge of relevant state based legislation
allows us to provide invaluable guidance with regard to Market Rent Determinations.
We provide an advocacy role for our clients where independent valuers have been appointed to determine rent and have invited submissions from lessor and lessee, which is then taken into account by the valuer
This process can be a distinct advantage if understood and implemented well. The intent of a Market Review is to allow the rent to be adjusted at a designated time to current market conditions taking into consideration the terms of the lease and any applicable legislation where applicable. This is an opportunity to have the rent adjusted to an affordable level for the tenants specific use but if not managed appropriately an excellent opportunity could be lost.
Once again, this requires a good understanding of your lease and the terms contained within it along with any applicable legislation. If you are unsure of the process or any of the various aspects of a Market Rental Determination, we would be happy to help.
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