Rent Review

We have an extensive client base in our Landlord and Tenant department, which has built an enviable reputation, is experienced in dealing with rent reviews on many different types and classes of property, benefiting from close links with our active agency departments.

Whether you are a Landlord or a Tenant, if you require professional advice from a chartered surveyor on the implications of a rent review clause, please feel free to contact a member of our team.

What is a Rent Review?

Rent Reviews are generally seen as an opportunity for Landlords and a headache for Tenants. In today’s difficult business environment they have become increasingly hard fought and reaching a successful outcome requires excellent market knowledge, accurate valuation, technical understanding of the relevant provisions in the lease and a detailed understanding of relevant case law.

The purpose of any rent review is to adjust the rent to the current market level at the relevant review date and, although rental levels can go down as well as up, depending on the prevailing market conditions, most leases provide that the rent will remain at the same level or increase at the review date. This is often referred to as an upward only rent review clause.

Where agreement cannot be reached on any rent review, either due to a difference of interpretation over a clause in the lease or a simple dispute on market rental evidence, rent review clauses typically provide for referral to either an Arbitrator or an Independent Expert (commonly known as the Third Party). Our rent review team is very experienced not only in the art of negotiation but also in preparing expert witness reports to Third Parties, setting out the key issues of dispute and commenting on all relevant market evidence.

Indeed, Chris Dennant, Jeremy Good and Peter Morgan are on the RICS panel of Arbitrators and receive regular appointments from the President of the RICS to act as an Arbitrator in their particular fields of expertise.  Jeremy Good also acts as an Independent Arbitrator in the Out of Town Retail Sector.

Other Services

In addition to negotiating Rent Reviews our Professional Department also has considerable experience in providing advice on the following connected matters:

• The service of Notices
• Interest provisions on back rent
• Time of the essence clauses
• Implementation and effects of break clauses
• Providing rental budgets
• Re-structuring leases
• Surrender negotiations
• Lease Renewals

Clients:

Our core areas of involvement are in central London offices and both high street and out of town retail throughout the country, although we welcome the challenge of more unusual properties as well. We advise a wide variety of clients from private individuals to property companies and major national and international companies, such as Sportsdirect.com Retail Limited, Global Asset Management, Silchester International Investors and Carillion Construction. Our clients include:

Whether you are a Landlord or a Tenant, if you require professional advice from a chartered surveyor on the implications of a rent review clause, please feel free to contact a member of our team.

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