At a Market Review, the tenant of this property requested a reduction in rent, to a “capped” annual gross rent of $450,000 for the entire duration of the 5-year option. The landlord used GEM Lease Analytics™ reports to support his case for an increase in rent, starting at $515,000 p/a with increments taking the rent to $550,000 by lease-end.

In this case, the landlord provided excellent evidence to be used in his analysis. The tenant, on the other hand, did not provide a coherent argument or evidence that supported his request for the “capped” rental figure. No tenant evidence was tested in the GEM™ analysis. Without sufficient tenant evidence, the Determining Valuer ruled in line with the Landlord’s evidence.