Lease Renewals And Rent Reviews Flashcards
1
Q
What hierarchy of evidence for comparables is acceptable?
A
- open market lettings
- lease renewals
- Rent reviews
- independent experts determination
- arbitrators awards
2
Q
How would a rent review be carried out?
A
. Comparison of general level of rents in that location
. The rent being payed is usually the best possible evidence of of the Market Rent
. When calculating considerations should be given to:
- date when rent was fixed
- age
- condition
- location
- Terms of lease
- market conditions
