Rent reviews occur periodically throughout the term of the lease, typically once every 5 years, and are usually upward only.
The date of valuation in a rent review is a fixed point in time. It is a snap shot of the market conditions prevailing at that date. Given that most rent reviews are upward only it is of vital importance that the correct settlement is achieved as this will be fixed until the next review or the expiry of the lease.
The market conditions, evidence, lease terms, physical characteristics of the building and location all impact the on the rental value a property can command.
If a negotiated settlement cannot be achieved, then our team our well experienced in the Dispute Resolution process at arbitration or expert referral.