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MoneyWoolies' pub landlord eyes rent increases as review kicks off

05:50  08 august  2019
05:50  08 august  2019 Source:   smh.com.au

Comment: How will further interest rate cuts affect the ASX share market?

Comment: How will further interest rate cuts affect the ASX share market? More interest rate cuts could send confusing signals to the ASX share market.

That said, rent increases must be fair and reasonable and we’ll show you how to negotiate for a fair rent price with your landlord . The rent assessment committee will review your case and decide if the rent increase is fair, and if not what is a fair rent . Their decision will be final and you will both

the landlord was not allowed to increase the rent until after two years. of the expiry of the lease. However, now the landlord . can increase the rent providing that he sends you at least ninety days written notice

Woolies' pub landlord eyes rent increases as review kicks off© Jessica Hromas Andrew Wilkinson, managing director of ALE Property Group at the Crows Nest Hotel, Sydney

ALE Property, the landlord for the Woolworths-owned ALH pubs business, has set an end date for its capped rental increases as part of a review of its leases.

ALE Property announced on Wednesday it would undertake rent reviews in preparation for when the bulk of the long-term ALH leases expire in 2028.

ALE also announced that the managing director Andrew Wilkinson would leave the group after 16 years to pursue new challenges.

But he will remain at the helm until the rent review process is complete.

The portfolio includes the Crows Nest Hotel in Sydney and Young and Jackson’s Hotel in Melbourne.

Dairy workers' court action over underpayment hit by surprise counterclaim for rent

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Rent increases often trigger security deposit increases . Here’s how it happens: Many states limit If you’re a month-to-month tenant and it’s not that big a deal, you’re better off going along rather than Rent Increases as Retaliation or Discrimination. Landlords may not raise the rent in a discriminatory

Clauses allowing the landlord to review (and particularly to increase ) the rent as he sees fit are likely to be unenforceable. Any increase upon a valid The rent will be reviewed annually and increased by the rate of inflation using the Retail Prices Index (RPI) current at the time of the review as the

The review comes after Woolworths announced it would spin out its Endeavour Drinks division together with ALH.

Woolworths’ shareholders approvals for the merger are expected in late 2019 with the merged entity, Endeavour Group, set to become Australia's largest drinks and hospitality business with sales of about $10 billion and earnings of $1 billion.

ALE Property also released its financial performance on Wednesday reporting a net profit of $26.6 million, which was down marginally due to costs related to the rent review, and other non-recurring expenses.

A final distribution of 10.45¢ was declared, taking the full-year payment to 20.9¢, payable on September 9.

Under Mr Wilkinson's leadership, ALE's market capitalisation has grown from $91 million to more than $1 billion delivering a total return of about 20 per cent per annum.

Pregnant mother of two facing homelessness after eviction has 24 hours to find a new home

Pregnant mother of two facing homelessness after eviction has 24 hours to find a new home Kylie Gangell, a heavily pregnant single mother of two, says she is a "good tenant" and just needs "someone to give us a go", as she struggles to find accommodation in Tasmania's tight rental market.

A rent review can result in an increase or reduction in the rent . Rent Pressure Zones and areas outside Rent Pressure Zones have different rules for rent reviews . The maximum rent increase will be 4% per year. The landlord must give the tenant the following information, in writing, at the start of

What are the rules on rent increases ? Read on for the answers to the most common questions, from how "Often, a landlord provides notice of the increased rent retroactively together to try to bully If the tenant ends up in court, or starts things off in a threatening way, they should remember that the

According to analysts at JP Morgan, ALE Property has a materially under-rented portfolio that "we expect will see a significant increase in income in 2028".

Under the current leases, rent increases or falls are limited to 10 percent a year.

In the coming months ALE and its tenant will commission independent valuations of 79 properties, being pubs and bottle shops, to determine the appropriate level.

ALE Property's share price was down 1.5 per cent to $5.10 in morning trade, in line with the market's overall decline.

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It's a place where people come to get fit, but a suburban gym has been working through a stronghold session of a different kind. Utopia Fitness and Health in the Sydney suburb of Mascot is up against one of Australia's biggest property developers, the Meriton Group. Sam Kolouris and his business partner Beau Lagarde admit they're working their way through some financial difficulties, but never did they imagine they would be faced with such heavy-handed tactics from big business. "They're the largest landlord in Australia and this is how they're treating people," Mr Kolouris said.

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