Rent Review and Lease Renewals
A Rent Review is a formal process, usually every 3 or 5 years during the term of a lease, where the rent is re-assessed. This re-assessment is carried out according to the terms of the lease, taking into account the current rental market at the time and the relevant case law.
Rent Reviews are usually agreed by negotiation between the Landlord and the Tenant, often with the assistance of a surveyor. However, if settlement cannot be reached then the review is determined by a third party, usually a surveyor appointed by the Royal Institution of Chartered Surveyors.
Our Rent Review service includes a close review of lease terms, a rental valuation to establish an appropriate rental level, negotiation and the serving of appropriate Notices required under the Lease Terms.
Lease Renewal is a process where a commercial lease comes to an end and the renewal is governed by the Landlord and Tenant Act 1954 Part II, and relevant case law. If agreement cannot be reached between the Landlord and the Tenant by negotiation, then the terms of the new lease are determined by the Courts.
We have many years experience acting for Landlords and Tenants, in dealing with Rent Reviews and Lease Renewals for a variety of commercial properties. The vast majority of our cases are settled without undue cost and delay as we firmly believe that a mutually amicable solution is far more desirable than protracted negotiations. To achieve this we pride ourselves on having the experience, knowledge and personal service to back up our Rental Valuation and keep momentum when it comes to negotiation.
Every business and business premises is different, so our Chartered Surveyors will willingly discuss your circumstances and assess your options in order to achieve your aims.