Rental Determinations require great care and expertise. Hay Property Group have been appointed by many organizations such as the (REIV), the API and the Small Business Council to undertake rental determinations.
Rental determinations are undertaken for a variety of properties such as shops, offices, factories, showrooms, hotels, nursing homes, motels and specialized properties such as telephone towers. Most people think a rental determination is only required when the rental is in dispute, but often rental determinations arise where both parties are unsure of the fair market rental of the property at that particular point in time. It is paramount to the success of the business that the market rent be set correctly. Equally from the property owner’s point of view, the correct market rent will ensure a fair and proper return on investment. The valuer must undertake to be impartial and fair, effectively acting as the umpire does in a game of sport where the umpire’s decision is final. Confidentiality is essential as often much of the information presented is of a private nature.
Having undertaken numerous rental determinations for such a variety of properties has placed Hay Property Group at the forefront of the profession, able to assist all parties in this delicate area where not only is a thorough knowledge of the property market required, but also common sense and industry specific knowledge. Our research personnel provide an invaluable aid to our valuers in researching industry specific data to ensure the determination is fair and equitable to all parties.