BOLIVARIAN REPUBLIC OF VENEZUELA

MINISTRY OF POPULAR POWER FOR EDUCATION

UNIVERSITY "FERMIN TORO"
BARQUISIMETO

CALCULATION OF THE LEASE FEE

MEMBER:
ESMERALDA ISTURIZ
11,783,525
Steps to follow for calculating the rent to lease a property:
Sunavi is the only entity according to the Law that must set the fees.
of leasing in Venezuela.
To determine the value of the property, the officials of the Sunavi must
inspect the house to determine the value of the construction, assigning them a
score based on the characteristics of the property, the materials of the structure,
paredes
integrated into the receipt, sanitary facilities, electrical, mechanical, stairs,
playground, garden, court, party room, trunk, etc.
Sunavi will also evaluate the replacement value (cost of construction),
the dimensions of the property, its depreciation in the market (useful life of the
property, quality, maintenance and preservation), the geographical region and its
seismic vulnerability.
After the inspection, Sunavi will obtain a score for the property and through the
table set by the Ministry of Housing and Habitat (consult Official Gazette
No. 40,054) the final cost of the housing is established. These tables evaluate the
housing according to its type, multi-family or single-family, number of floors and system
of construction.
Formula to calculate the Current Value of the Property (CVP):
( )
Value of Repositioning (VR) x (1− ó ( ) )
= í ( ) ó á .
100

Formula to calculate the Value of the Property (VP):

( )
( ) 2
= ( ) ( ).
Á ( )

Formula for the calculation of the Lease Canon (LC):

( )
( ) = ( ) %
12
= The Rentability Annual, 3% if it is multiplied by 5% if it is a unpaired arranged.
Example:

Conditions:

120 apartment 2, with elevator, 8-story building, 20 years old

construction, located in Cabudare. Let's assume that it obtained a score
media in the inspection of the Sunavi and the landlord has more than two properties
for rent.

According to the construction value table, this property would have a value
from Bs. 6,360 for 2 To calculate the lease payment, it must be applied

the formula to know the Current Value of the Property:

VAI = VR x (1-K/100) x VS x VG

VR = Bs. 763,200 (comes from the table Bs. 6,360 x 120 2)

K= 14.22 (good condition with 20 years of construction)

VS= 1 (built between 1983 and 2001)

VG= 1 (due to its location in Miranda)

V763200 x(1 − 14,22)

= x 1 x 1 = 654.672,96
100

Now we must calculate the Value of the Property

VI = (VAI / MCI) x MCV

VAI= 654,672.96

MCI= 120 2

MCV= 120 2
 654.672,96
= × 120 = 654.67296
120

We now have all the data to calculate the lease fee.

according to the formula CA= (VI/12) x %RA

654.672,96
= × 3% = 1,636.68
12

Steps to follow for calculating the lease to rent a commercial space:

Located in the Piedad Norte Shopping Center

Property of Citizen Addy French

Located in La Piedad in the Lara State.

THEORETICAL FUNDAMENTALS OF LAW

The Decree Law on the Regulation of Real Estate Leasing for Use
Commercial, dictated by the National Executive, defines three methods through
which the owners and landlords of premises must establish the
fair rent standards.

The regulation, published in the Official Gazette 40.418 dated May 23

2014, establishes the conditions and procedures to regulate and control the
relationships between tenants and owners, in pursuit of interactions
justice, strengthening the sector and protecting the pockets of the
Venezuelans, highlights its preamble.

In this regard, ARTICLE 29 of the Law specifies that the amount of the rent
the lessor and lessee will determine using one of three methods,
common agreement
1.- Fixed Lease Canon (CAF)

2.- Variable Lease Canon (CAV)

3.- Mixed Lease Canon (CAM)

Thus, Article 32 states that the determination of the rental fee for
the properties subject to regulation will be determined by the landlord and the
tenant applying one of the following methods agreed upon between the
parts:

1) Fixed base lease canon (CAF) according to which it is taken as a basis

the updated value of the Property (VI), divided by 12 months and by the area
rental (M2A), obtaining the rate per square meter, then it is multiplied
this value for the area to be rented (M2a) and for the profitability percentage
(%RA), set at 12% for the first year of the lease relationship.
When it comes to Shopping Centers and/or Commercial Premises
completely new, the established annual return percentage (%RA)
it can be a maximum of 20% only for the first year.

= ( 12 2
) ∗ ( 2a x %RA12).

Initial Replacement Value of CC Piedad Norte according to Calculation =

367,898,794.50 Bs

CAF: Value of the fixed monthly rental fee.

VI: Value of the property at the time of the transaction will be determined by
appraisal carried out according to the replacement cost method. It corresponds to the

SUNDEE supervises and agrees on the appraisal methodology to be applied.

 2 Leasable square meters.

2 Square meters for lease

Annual profitability percentage.

CALCULATIONS OF THE LEASE FEES.

A.- GROUND FLOOR LOCAL 01

The value of Local 01 (Area 81.20 2) representing 9.73% and

determined by an appraisal conducted according to the cost method of
restoration, which is attached:

Construction Value Bs. 367,898,794.50

Value of the premises in percentage terms Bs. 35,794,606.70

Leasable Area: 834.00 2

Area of Local 01: 81.20 2

Maximum Established Profitability Percentage 12%

367.898.794,50
= ( 834,00
12
2
(
) * 81,20 mts x 2%12=34,830.24
)

Procedure to follow to request the regulation of the fee

The determination of the fee will be made at the request of a party, through a written request, or

of office. In the case that it is of office, the National Superintendence of

Housing lease will order the opening of the procedure and will notify
to the parties whose subjective rights or legitimate, personal interests
directly could be affected.
The written request for the determination of the lease fee has been submitted.
The National Superintendency of Housing Rental will admit it within
the following three business days, if it meets all the established requirements
in article 81; if the application presents defects or omissions, notification will be given to the

interested in having them remedied or corrected within the

fifteen calendar days following, counted from your notification, without
prejudice that the interested party submits a new application. If the defects or
omissions are corrected, the application will be processed. The decision that
the admission of the application will be denied, it must be justified and against it, one may appeal

file the corresponding administrative contentious appeal, within the

sixty calendar days following the notification of the administrative act
denial

Article 81. The application document must indicate:

The organ to which it is addressed.

2. The identification of the interested party and, where applicable, of the person acting as

his representative with expression of names and surnames, address,

nationality, marital status, profession, and identity card number or
passport.

3. The address of the place where the relevant notifications will be made.

4. The facts, reasons, and requests corresponding, expressing with all

clarity the subject matter of the request.

5. Reference to the annexes that accompany it, if applicable.

6. Property data.
7. Any other circumstances required by legal regulations or
regulatory.

8. The signature of the interested parties.

Once the application is accepted, the interested parties will be notified that it has been initiated.

to the establishment of the corresponding canon; to this effect, the Superintendency

National Housing Leasing, within a period of twenty calendar days,

you must determine the value of the fee in accordance with what is indicated in the

articles of the present Law.

When requesting the determination of the rent for a portion of a

property, whose value has been determined by the Superintendency
National Housing Leasing not earlier than one year from the
request, a new determination of the value will not be made, but instead it will
will apply to the proportional part corresponding to the portion whose
regulation is requested.

The rental rates of properties subject to regulation by law,

will be reviewed by the National Superintendency of Leasing
Housing, at the request of any of the interested parties in the following cases:

1. When a year has passed after each setting of the fee

maximum monthly lease, carried out and notified to the interested parties by
the competent administrative or jurisdictional body.

2. When the use or purpose for which it was changed, totally or partially,
leased the property.

3. When the landlord has executed in the property, within the deadline
indicated in numeral 1 of this article, improvements whose cost exceeds
twenty percent (20%) of the value of the property.
In the case provided for in numeral 1 of this article, the interested parties may
request the review up to sixty days in advance of the expiration of
term set in said numeral. The National Superintendence of
Housing Lease, for the purpose of maintaining economic balance
rental relationships, when no interested party requests regulation,
may, on its own initiative, initiate the corresponding procedure, instruct and decide the

cases that in your opinion are deemed necessary, at the owner’s expense and without prejudice
from the application of the sanctions that may apply