Rent Reviews

With values changing all the time how can a tenant as a lay person possibly know what is the fair market rent at any time without professional advice? Here again we can help. Through constant exposure and from a database of historic lease terms relating to a diversity of properties we can maintain a “picture” of where the market is going sector by sector and month by month.

Our fees are modest when set against the cost of a “mistake”. With 5 years being typically the interval between rent reviews, an “error” of £2,000 per annum rapidly becomes £10,000. Fine if the error is in your favour, not so fine if it is not.

A £2,000 fee in this context might be worth it just for peace of mind. Negotiation is a skill and it can become an art as valuation is after all an “inexact science”.

All the more so when it involves understanding landlor and tenant law, interpretation of leases (what really was the intention of the parties?), basis of measurement, and subjective assessment as to just how comparable is the rental evidence put forward by the other side.

Sometimes it is hard to believe that the majority of rent review negotaitions are settled amicably but where they do not, we have experience to take a disputed case to arbitration or to an independent expert.

Lease renewal negotiations are similar to rent review negotiations but here other terms in the lease can be up for review as well. The difference is that the tenant can “walk away” if agreement cannot be reached. Again we have years of experience to help secure the best outcome for clients.