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.
