How is rent determined?
The initial rent is determined by a valuation which is organised by AMC from a qualified valuer on behalf of the Owner. Under the scheme the rent will be determined once a year by either of the following:
- Valuation
Rent determined by valuations must occur in years 1, 4 and 7 and will be arranged by the AMC on behalf of the Owner and payable by the Owner. - Consumer Price Index
The commencement of years 2, 3, 4, 6, 7, 9 and 10 can be increased up to the percentage of the rental component of the CPI in the capital city of the State in which the property is located. The property manager must request AMC to approve all rental increases before they are implemented. Any increases are to be in accordance with the relevant State Government tenancy laws.