Rent Reviews

T: 0161 518 8675

E: la@roger-hannah.co.uk

 

Commercial leases will often contain provisions for reviews of the annual rent at specified intervals during the term of the lease. These intervals are agreed upon and outlined in the lease.

The methodology and procedure for reviewing the rent are outlined in the lease and typically, the process involves the parties’ representatives putting forward their respective valuations and supporting market evidence in support of their respective cases to negotiate a settlement.

Where agreement cannot be reached, there will normally be provision for referral of the rent review to a third-party surveyor who will act as an arbitrator or an independent expert.

A market rent appraisal is crucial in calculating the correct rent at review.

It is important for landlords to be up-to-date with current market trends to enable them to maximise the rental income of the property at rent review.  Whereas, for tenants, it is important to negotiate competently to ensure the rent fully reflects the terms of the lease and is in line with current market expectations.  Preventing delays is important in this situation, as the tenant will remain liable for the payment of any backdated rent from the review date.

 

A poorly executed rent review could result in either the tenant or the landlord either paying too much or receiving too little.  Therefore, navigating this complex process in a professional, knowledgeable and efficient way is vital.

Rent Review FAQs

7 Tips to Navigate your Rent Review

At Roger Hannah we have extensive experience in acting on behalf of Landlords and Tenants of commercial property and have put together 7 Tips to a successful Rent Review exploring:

 

The Lease  |  When can I Review  |  Types of Rent Review  |  Expert Knowledge  |  Negotiations  |  Dispute Resolution  |  Completion

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Key contacts

Mark Keirl

MRICS Registered Valuer
  • Director

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Joe Wilkinson

MRICS
  • Associate Director

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