505. Arbitration or third party determination on terms of new tenancy.

Where the Tribunal1 gives a direction entitling an applicant to a tenancy2, the provisions described below apply3.

The landlord4 or tenant5 may by notice in writing served6 on the other within the prescribed period7 demand a reference to arbitration or for third party determination8 in respect of one or both of the following questions9:

  1.  

    (1)     what variations in the terms of the tenancy are justifiable having regard to the circumstances of the holding and the length of time since the holding was first let on those terms (question (a))10; and

  2.  

    (2)     what rent should be or have been properly payable

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