What are the main factors which affect open market rental value?
The open market rental value will be affected by the general level of rents for similar premises in the area.The use of the premises can have a significant effect on the open market rental value. If your lease allows you to use the premises for a variety of purposes, the open market rental value will be calculated as if they are being used for their most valuable purpose.
Suppose, for example, that office rents are higher than rents for storage space. If your lease allows you to use the premises as either offices or storage, the rent will be calculated as if the premises were offices - even if you are in fact only using them for storage.
