Rent Reviews Lease Renewals

Ensuring the rental value of the property in question bears comparison with similar premises that would be available to lease is an important part of the process of securing your new office space – but it can also lead to conflict because inevitably the landlord will want to maximise the value and you, as the tenant, will want to keep it to a minimum. Having extensive knowledge of the market is essential and our consultant surveyor, with 40 years of experience, is ideally placed to ensure you’re not paying over the odds for your office space. Likewise, if you are a landlord, at rent review or lease renewal you will want to ensure your investment is maximised and that the highest possible rental increase can be achieved. Our consultant rent review / lease renewal surveyor will ensure they achieve the most advantageous results for you.

Ideally, the aim is to reach an amicable and mutually agreeable settlement on the rental value of the property, without the need to refer the matter to a third, independent surveyor. Sometimes, though, that can’t be avoided and over the years we’ve also had extensive experience in these matters. There is a subtle difference between an Arbitrator and an Independent Expert. Our consultant surveyor has lots of experience in both areas, having been appointed to both roles at various times by the Dispute Resolution Service of RICS.

In a rent review, it is merely the amount of money to be paid in rent that is under negotiation. However, there are a great many other elements to a successful lease that also need to be considered and agreed. These include things like the length of the lease, repairing responsibilities and obligations and break clauses, among others. These elements can have a significant impact on the level of rent you’ll pay and it’s vital that you understand what’s involved in the process and how it might affect you.

It’s essential that any documentation associated with the lease process, e.g. appropriate Notices, is served and complied with in good time and within the provisions of any regulations or laws, since this protects both tenant and landlord. Our consultant surveyor has extensive experience in this area and can ensure your process is compliant at all times.

It’s always the intention to settle lease renewals amicably, however occasionally this can’t be achieved, and the issue needs to be referred to, and decided by, an adjudicating court. Should that happen, our consultant surveyor has extensive experience in the preparation of Independent Expert reports and can present your case clearly and precisely.

Often, it’s possible to renegotiate a lease on favourable terms as it is coming to an end. This is likely to be dependent on the prevailing circumstances and the nature and scope of the accommodation in question. It makes sense from everyone’s perspective, where possible, to deal with an expiring lease ahead of time. This protects the rental value of the landlord’s investment and also ensures uninterrupted occupancy for you, the tenant. We are able to provide expert advice and support in this area.