Posted on Friday, April 26th, 2019 in by Matt Garmony
It is important to obtain expert valuation advice from a licensed valuer for Market Rent Reviews particularly for Retail premises. The Commercial Tenancy (Retail Shops) Agreement Act 1985 has provisions to assist tenants, particularly in the Market Rent Review process. The requirement for disclosure statements, minimum 5 year tenancies, no ‘Ratchet’ clauses and single rent review methods are just some of the few provisions the Retail Shops Act has to assists retail tenants. With the showroom and retail market rental values falling over the past few years, it is important for landlords and tenants to obtain accurate rental valuation advice when their market rent reviews are due. Our experienced, expert licensed valuers can source and interpret recent comparable rental transactions. We prepare rental valuation reports to assist our clients with the true market rental value of the Premise they occupy or are interested in negotiating a lease on. Our valuers can provide a market rental valuation for one party or be appointed jointly, by both the landlord and the tenant, to provide a rental valuation or rental determination to assist with rental disputes.