Reappraisal Lease

Lease where the rental level is periodically reviewed by independent appraisers. Often lessor and lessee will each select an appraiser; if they do not agree on a value, they will choose a third appraiser.

A Lease where the rental level is periodically reviewed by independent Appraisers. Often, the Lessor and Lessee will each select an appraiser; if they do not agree on a value, they will choose a third appraiser.
Example: In the 20-year reappraisal lease, Big Buy Foods agrees to pay the landlord an annual rent of 9% of the property value. Every 5 years the property will be reappraised to determine the rent.