are often "secret" so that the valuer when comparing leases
may not know of the incentives paid in comparable lease agreements
other than by way of hearsay. Where the incentives are known, they
can be converted into annual rental equivalents using compound
formulae and deducted from the base rent to find the effective rent.
The method is the same as treating the incentive as a "reverse
problem with using hearsay evidence is that it will not be admitted
in a court hearing as evidence of market rent. Evidence of incentives
can most likely be subpoenaed by the court see Dickinson
case (1991) The Valuer, November, 1992, p305.