Fair rent market value: how to determine?

[jojok]

Hi, I am trying to setup a lease extension with the base rent from fair rent market value instead of a predetermined price.
For example:
First year - $100
Second year - $200
Third year - tenant option to renew at fair rent market value.

My question, what would be the best way to determine the Fair rental market value when it times for the tenant to exercise the option?

Thanks.

[Propertymanager]

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