The Law Affecting Rent Review Determinations

By: Alan Hyam

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17 December 2019 | Edition Number 3

At a Glance

No. of Pages
384

Dimensions(cm)
23.5 x 15.5 x 2.5

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The new edition has a narrow focus in relation to the legal and valuation principles concerning rent review determinations and associated matters, but it contains valuable material relating to the interpretation of commercial and retail shop leases, nature of valuations, and the duties of valuers undertaking rent review valuations.It covers a complex and specialised subject, provides valuable assistance to lawyers and valuers who practise in the area, and teaching institutions which conduct courses in property and valuation law.

The third edition contains references to, and summaries of, relevant cases decided throughout Australia since the publication of the second edition some five years ago. Several topics have been expanded and new topics added.

The topics which have been expanded include:

advantages of expert determinations; construction of lease clauses and meaning of terms used;

effect of exclusion of ratchet provisions;

mistake in departing from instructions;

whether determination made in accordance with the contract;

error in interpretation of lease;

whether mistake in accord with legislation;

independence of the valuer; bias by the valuer;

difference between valuation and arbitration;

whether determination final and binding;

provision of information by parties; duty to accord procedural fairness.

New topics include:

concise explanation of general law of construction of leases

error in valuer giving reasons

future work by lessee

whether assessment of rent by parties reasonable

whether time of essence

failure to give detailed reasons

sufficient noticeinterpretation of provisions lease

application of profits method of valuation to rent review of hotels

interference with valuer's discretion

jurisdiction of the Western Australian Tribunal.

Industry Reviews

This 3rd edition includes, throughout, further sub-topic information. The analysis of relevant legal principles is very-well supported by quotations from the applicable case law. This is a detailed practitioner text that will also be used by those studying and researching legal issues as to property and valuation. The book includes considerable information relevant to retail leases. - Dominic Katter, Hearsay, Issue 86: August 2020

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