buds14Participant@buds14Join Date: 2019Post Count: 0
I have purchased a commercial property said to be annual CPI (all groups SA) reviewed
but the Lease has the first 3 yrs JULY 2016-2019 as a no review/holiday period
First Review 1 July 2019, should have been actioned by Vendor’s Management Agent but was not,despite promise of AGENT to have this done before Settlement
Do I use CPI from I/7/16 to 1/7/19 i.e 3 yrs of CPI
or am I to use only the 18/19 yr
Can you advise
thanksTerrywParticipant@terrywJoin Date: 2001Post Count: 16,190Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,850
After reading the rent review clause, go to abs.gov.au and get the CPI table download. This is an Excel file.
Use the all groups Adelaide
June 2019 ÷ June 2016 × current rent.
113.7 / 107.5 = 1.0576744186 x rent
You will also need to do a back rent calculation for the period after the rent review to current (even if this is prior to your ownership, it is in arrears).