VIC Rent Assesment

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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 Retail Leases Act applies, if  a lessor and
tenant can not agree on the market rental, the rent is to be determined
based on the matters stipulated in s.37 of the Retail Leases Act.

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