Rental Determination – This style of report is most common when a commercial lease is reviewed. This can occur during the term of the lease or when a tenant wishes to exercise their option. It is a common clause written into a lease that an independent Certified Practising Valuer is required to carry out a market valuation to assess the adjustment of the rent.
Such a report can assist when first negotiating a tenancy. As with most leases, you are locked in for an extended period of time, therefore commencing with the right rental amount benefits both the landlord and the tenant.