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Property. People. Perspectives.
36 minutes | Dec 18, 2020
Market Rent Valuations in the COVID-19 Climate with API Accredited Specialist Retail Valuer Steve Simpson
It shouldn’t come as a surprise that leasing activity has been significantly impacted by the COVID-19 pandemic despite the National Mandatory Code of Conduct and the subsequent legislation enacted by the States and Territories. With face rents on the decline and vacancy rates, incentives and sublease stock on the rise, the pandemic is only one of the minefields that landlords, tenants and valuers alike are facing. We are joined by API Accredited Specialist Retail Valuer Steve Simpson of Simpson Corporate to discuss the interplay between COVID-19, its repercussion and market rent valuations and what we are likely to see in the coming years as a result. We discuss:Determining current market rentHow COVID-19 is impacting valuers when considering market valuations The effect of the National Mandatory Code of Conduct and the State-specific COVID-19 legislation on calling for rent reviewsThe impact of increased incentives and vacancy rates on determining market rent Are tenants double dipping by receiving the benefit of a low market rent and reduced rent under the legislative frameworkHow valuers are treating market rent determinations where the parties were in the midst of the determination process pre-MarchThe challenges of a determining the market in the second half of 2020 and the possibility of a free and open market The effect of sublease stock on market rentsEarly market rent reviews under the Retail Leases Amendment ActWill tenants circumvent the market rent review process and instead enter into new lease agreementsTrends for valuers, landlords and tenants Connect with SteveOn LinkedIn Resources · Watch this space: changes to the Retail Leases Act (Vic)· Valuer and Retail Leases Update – Do you know what to take into account when undertaking a market rent review?
29 minutes | Nov 23, 2020
COVID-19 Rent Relief Mediations with Mark Schramm from the Victorian Small Business Commission
Over the past eight months, the coronavirus pandemic has affected our daily lives. To deal with the adverse effects on businesses, the National Cabinet released a National Code of Conduct which guided each of the States and Territories in implementing their own legislative framework. However what happens if an agreement cannot be reached between a landlord and tenant? Senior Manager at the Victorian Small Business Commission (VSBC) Mark Schramm speaks with Rohan Ingleton and Nicola Carnevale about the mediation process at the VSBC under COVID-19 and some key issues and questions around the process. We discuss:1. COVID-19 Regulations and its amendments2. Tenants needing to re-apply for rent relief for extended period3. Role of the VSBC and resources available4. Success of VSBC mediations – pre-mediation discussions and at mediation5. Relief for outgoings 6. Common issues coming before the VSBC 7. New binding orders Connect with the VSBC On LinkedInVSBC websiteEmail Resources Victorian Small Business Commission Frequently Asked Questions What a relief…the Victorian COVID-19 regulations for rent relief have been extended Attention Landlords and Tenants: first Supreme Court case “steps out” on COVID-19 legislative scheme About Mark Mark Schramm is Senior Manager - Dispute Resolution with the Victorian Small Business Commission. Before joining the Commission he worked with the ACCC and as a solicitor. He has previously acted as the Small Business Commissioner and as Director, Small Business Victoria. In his current role he manages the Commission’s dispute resolution process and assists the Commissioner in advocating and giving guidance on issues including retail leasing, farm debt, owner driver and business to business commercial disputes. He hold a Master of Laws from Monash University.
1 minutes | Nov 16, 2020
Introducing the Property. People. Perspectives. podcast!
It’s not always easy navigating the murky depths and implications that legal decisions can create in the property industry. Papers, cases and legislation aside, what does this mean for business? What’s the commercial reality? What do you actually need to know and action and what can be pushed to the side? The Madgwicks Lawyers Property and Leasing team are here to cut through the noise and tell you what you really need to know by having conversations with Australia’s top commercial, retail and industrial property experts. Subscribe now.
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