‘Evaluating Current Market Rent: Running a Single Dimensional Argument for a Multi-Dimensional Problem: reference API’s Technical Information Paper
In my last short article about presenting a “value” proposition versus a “cost” proposition in…
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The aim of the Code of Conduct is to ensure there are uniform principles for measuring, apportioning, charging, reporting and transparency of outgoings charges & utilities for the Shopping Centre Industry in Australia.
The shopping centre industry has “evolved” over the last 30 – 40 years in Australia, largely free from legislation. Only over the last 10 years or so, tenancy legislation has improved and is in the process of “evolving”.
Outgoings are a cost recovery managed by independent professional managers, “related managers” or owners, directly on behalf of the tenant. This places the manager or owner in a fiduciary role; they are therefore fully accountable to Industry Stakeholders for the procurement, measurement, apportionment, management, charging and transparency of their monies.
Retailers believe in many instances, they are not being competitively charged and this has been open to abuse. They are now seeking fairness & equity as to the management of all aspects of outgoings charges.
Noncompetitive outgoings charges, have a major impact on large users of space. This is one area retailers believe affects their ability to distribute goods and services cost efficiently, to Australian consumers at large.