PARTIES/LEGAL REPRESENTATION/ TYPE OF DISPUTE The inquiry was with regard to the selling price of…
Expert determination
PARTIES/LEGAL REPRESENTATION/ TYPE OF DISPUTE
Joint appointment by parties’ legal representatives
INSTRUCTION:
DESCRIPTION OF DISPUTE
Dispute about the “market rent” for 5-year option
How it was settled
Entered into joint agreement with landlord and tenant to settle dispute. Settled other disputes within the lease on a poorly drafted document which required consensus before rental dispute could be settled (lease will require some redrafting)
The previous rent was around $140,000. The rent was determined at just over $150,000 based on the facts and evidence, however it was qualified as the tenant withheld information and data considered important from the expert
The difference between the landlord and the tenant’s position was over $400,000 over 5 years

