TY  - JOUR
AB  - This paper examines the effect which the rent assessment process has on the level of rents and rental values in the commercial property market in England and Wales, by asking: is there an accepted definition of open market rental value which is consistently adhered to, irrespective of the context in which the rent is assessed? How, in theory, do the procedures by which an assessment of open market rental value is arrived at differ as between a new letting, a lease renewal, and a rent review? Is there any evidence to suggest that any theoretical differences in the operation of the various rent assessment procedures are borne out in practice? In particular, is there any evidence that in new lettings and lease renewals lease terms are changed after the rent has been finalised? Is there any evidence to demonstrate that there are different levels of rent which are sufficiently consistent to be referable to the context in which the rent was assessed? If so, does this produce difficulties in the valuation process which may not be presently fully appreciated? In addition to a review of the relevant literature, the primary research undertaken for the study was a survey of surveyors and solicitors involved in commercial lettings and rent reviews and the compilation of a database of rental valuations and transactions.
VL  - 18
IS  - 4
SN  - 1463-578X
DO  - 10.1108/14635780010345382
UR  - https://doi.org/10.1108/14635780010345382
AU  - Crosby Neil
AU  - Murdoch Sandi
PY  - 2000
Y1  - 2000/01/01
TI  - The influence of procedure on rent determination in the commercial property market of England and Wales
T2  - Journal of Property Investment & Finance
PB  - MCB UP Ltd
SP  - 420
EP  - 444
Y2  - 2024/09/24
ER  -