This course will equip you with skills to carry out rent review, and lease renewal advisory and services for property professionals. The critical aspect of client-expectation management will also be addressed from a macro perspective.
Focusing on the impact of fundamentals and strategies on property valuation
5 credit hours awarded from BOVAEP
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Dealing with a property rent review or lease renewal requires a combination of technical and business acumen. The ability to identify opportunities with lease renewal rights and rent review clauses will impact the rental rate to be determined for the review/renewal of the tenancy or lease.
These skills can be acquired through gaining technical skills in lease interpretation, knowledge of relevant valuation aspects, understanding the legal position, as well as the industry's best practices. An understanding of the financial impact will also provide a more effective and justifiable formulation of the rent review/lease renewal clause for a specific circumstance.
In addition, these expertise must also be balanced with the business acumen of negotiation strategies and client care skills in order to reach a successful settlement and to avoid conflict where possible during negotiations.
Prem Kumar FRICS, Executive Director, Jones Lang Wootton
Prem is a Fellow of RICS and the Royal Institution of Surveyors Malaysia (RISM), as well as a valuer and estate agent registered with the Board of Valuers, Appraisers and Estate Agents, Malaysia.
He is currently the Chairperson of RICS Southeast Asia Advisory Board and was previously a Board Member of the Asia World Regional Board, also RICS.