P4 – Reviewing Fees and Charges – what is the process?

You’ll need to comply with your financial regulations and consider whether your valuer should be involved or whether it is appropriate for you as markets management to conduct the review. Assessing and comparing the “markets competition” would give you a general idea of what traders are paying within your region – on a square foot/metre, lineage or other basis. A successful market with plenty of customers and successful traders will normally achieve higher rentals than a quiet market with poor economic performance. The level of trader demand, a transparent base rate and an easily collectable amount are also points to consider – and consulting on the pros and cons with trader representatives will provide useful information.

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