Rent Reviews
The vast majority of rent reviews are settled following negotiations between the surveyors acting for the landlord and tenant and many rent review provisions also provide for automatic increases throughout the term based upon measures of inflation, such as the Retail Price Index or even turnover, which simplifies the process.
If an agreement regarding the reviewed rent cannot be reached, we can assist you by interpreting the rent review mechanism in your lease and helping you and your surveyor put forward the best arguments to support your position.
We can prepare notices to commence a review and can assist tenants by reviewing the validity of notices that have been served upon them. If you receive or serve a rent review notice, careful attention needs to be paid to its form, the manner in which it is served and the timing and/or any deadline for service. However, in respect of any rent reviews, the notice may be served after the review date in the lease because “time is not of the essence.”
If you have not previously been involved in a rent review, then we can introduce you to specialist surveyors with experience in the commercial property market in your area and how your case might potentially be decided at an arbitration.
Rent review arbitrations allow for quick and cost-effective determination of the rent review compared with issuing court proceedings. Agreement regarding the rent is normally reached in all but the most valuable disputes or those where the drafting of the lease might be capable of different interpretations.
We have previously acted for landlords following successful rent review by issuing proceedings to record the difference between the current rent and the reviewed rent that will be charged retrospectively from the review date.
How can we help you?
We can assist you with the following:
- Helping you to understand the rent review mechanism in your lease and how it should be interpreted for the purposes of the rent review.
- Preparing notices to commence the rent review process and considering the validity of such notices served upon a tenant.
- Introducing you to valuers and, if necessary, barristers with specialist experience in this area.
- Helping your surveyor to negotiate with the other party.
- Reviewing your surveyor’s valuation report.
- Representing you in any rent review arbitration.
- Recording the outcome of the rent review in a rent review memorandum.
Please feel free to contact our team on 0345 646 0406 or fill in our online enquiry form and a member of our team will be in touch.
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