ACT Rent Assesment

Leasepro > ACT Rent Assesment

Rent Assesment

Rent Assessment is typically necessary under retail and commercial leases
when there is a market review of rent provided for under the lease and the
lessor and tenant do not agree on the prevailing market rent.  The selection
of the assessor, the methodology applied in determining rent and the costs
payable for the assessment are matters that be addressed by the lease
however for leases to which the Leases (Commercial and Retail) Act applies,
a mediation can be conducted and if lessor and tenant still can not agree on
the market rental, a valuer can be appointed in which case, the valuer must
only take into account the information prescribed in schedule 1 of the Act .

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