Melbourne Market Rent Valuation Services
Seeking out a market rent valuation Melbourne for review purposes is an essential requirement for tenants and landlords in commercial leases. When a commercial, industrial, or retail property is rented, the lease will stipulate when a rental review will be in place. Because commercial leases are generally around 3 – 5 years, a rental review can either occur at the renewal of the lease or sometimes halfway through the lease. The purpose of this is to ensure the ongoing fair market rent is paid for the property in the most unbiased and transparent way possible.
Many clients want to know how to determine the rental value of commercial property, our answer is to talk to an industry professional. Rent is likely to be your biggest expense, seeking out a professional rental review is essential for any tenant and landlord to avoid over or underpaying the correct rental value. While a rental review is commonly included in long term commercial leases to ensure that the correct rent is being paid, it is sometimes requested in residential leases in cases of rental disputes or rent querying, either way, a market rent valuation is essential. More often than not, we cater for a huge demand for rent reviews for commercial tenants and commercial property owners.
Determining the correct amount of rent payable is contingent on a variety of reasons. Our property valuation methods look at, economic climate, property location, size and proximity to local amenities. As a tenant, it’s important to understand your tenant rights in requesting a rental review. Seeking out a rental review is helpful in reaching the fair and current market value of the rent payable.
Each rental review valuation report is professionally detailed, providing a comprehensive report that will look into the following:
- Condition of the property.
- Comparable Rentals.
- Current Lease agreement.
- Other areas of concern as specified by the tenant.
Market Rent Valuation Service Melbourne
At Melbourne Property Valuers Metro, we are committed to ensuring that a fair and current rental value is paid by tenants and to Landlords.
While rental reviews are common in long term commercial leases, seeking a rent valuation report can also work towards preventing further disputes between the tenant and the landlord. As an independent valuation company, Melbourne Property Valuers Metro are not tied to any third party establishments and can guarantee an accurate value in all services including pre-purchase/pre-sale valuation. It is important to us to make sure that both parties are aware of the current rental value of the property.
There are a number of reasons that can affect the rent payable for a property, this can include changes in the property market, local infrastructure in the area, and increasing customer traffic. While most of our clients might be in need of our residential property valuation service, we are also experts in commercial property. That’s why seeking out an independent, API registered property valuer is recommended to complete all rental reviews to ensure complete transparency and accuracy. As API qualified valuers, our clients are reassured that they are receiving the best service and a world of knowledge at their disposal. Our team of Senior Valuers all have at least 20 years of experience are specialised in rental review to guarantee our clients with a quality valuation report.
We understand that the amount of rent that you pay, the most important expense in running a business. That’s why we always strive for excellence to ensure that we will provide both parties with a bias-free, independent rent review valuation for peace of mind. Our services are also utilised in Court and litigation matters and are often used to settle dispute matters when the relationship between the parties break down.
Melbourne Property Valuers Metro is highly regarded in the property valuation industry. We are a long-established, full-service valuation firm that specialises in rental reviews and rental determinations for both tenants and landlords. If you require a commercial rental review, our commercial property valuers Melbourne will assess certain aspects of the property and analyse them against other recently negotiated and comparable leases in the area. Such aspects can include and are assisted by:
- The location of the property – we have an extensive amount of knowledge of the Melbourne Metropolitan area.
- The size of the property – to work out a $ per square metre rate.
- The interior fixtures and features as well as the condition of the property.
- Scientific methods are then used to calculate fair market rent for the property in question.
- We have specialised residential and commercial property valuers in Melbourne dedicated to this area of property valuation.
- We offer our service for both commercial and residential properties.
- No job is too big or too small – we service clients with single dwellings, mixed-use dwellings as well as large whole-building reviews in multi-storey properties.
- We take an unbiased approach to each rental property valuation Melbourne – the result will be fair according to market evidence that benefits both parties.
For further information on the rights and responsibilities of commercial tenants and landlords, you can click here.
If you have a need for determining the fair market rent of a property, be it residential or commercial, single property or large scale development, look no further than Melbourne Property Valuers Metro. To speak to commercial property valuers Melbourne or to request a free quote, please contact us today on (03) 9021 2007 or fill out an online enquiry form. We won’t be beaten on price or service!