We undertake rental reviews and also rental determinations for commercial, industrial and retail property. We meet the requirement of specialist retail valuer under the Retail Leasing Act. Also we are listed with the API (Australian Property Institute) as specialist retail valuer.
Most leases provide for rent to be reviewed annually. The most common methods are for rent to increase by a fixed percentage, for it to be increased by reference to the Consumer Price Index or for it to be reviewed to market. A market rent review involves a determination of the rent payable by looking at what the rent would likely be if a new tenant was entering into a new lease with the landlord. The lease should contain detailed provisions relating to the matters which can and cannot be considered when determining market rent. Parties should always try and negotiate and come to an agreement as to the new rent before the market review date. In the event the parties cannot agree most leases provide that a valuer who specialises in the type of premises being valued performs a market rent review. Whatever the valuer determines is the new market rent and subject to limited rights the parties may have under the terms of the lease or under general law the valuation is binding on both parties.
We provide independent rent reviews for a variety of clients, our experienced professional team will research the current market in your local area. Our team is experienced in providing rent review valuations & services for large & small premises. We undertake rent reviews for both landlords and tenants. Whether you have an industrial, retail, commercial or residential property we can determine the fair current market rent. A rent review clause is often contained within a commercial lease to bring the rent to the fair current market value.
Our team are experienced in researching and analysing leases and the fair current market rent of a property on a case by case basis. We can assist in negotiations, arbitrations and determinations. We can provide a common sense approach to give parties an amicable result.