Rent Reviews Support
Rent reviews form an essential part of the lifecycle in the lease process.
For landlords, they represent an opportunity to ensure that the tenant is paying the market rent and to protect its premises from inflationary and market pressures.
For the occupier, it forms a risk to profitability and an increase to occupational costs. Rent reviews can take various forms, including:
• Open market (upward only) – This is the most common type of rent review in the UK
• Open market (upward or downward) – These are relatively uncommon in the UK
• RPI Reviews – These are related to the rate of inflation measured by the prevailing RPI rate at the review date
• Fixed Reviews – These are set within the body of the lease
• Annual turnover reviews: These can vary from ratcheted reviews to base plus turnover reviews. Careful attention must be paid to the wording of the turnover provision
Genuine Advice
We are here to advise you and are able to provide a preliminary opinion as to the veracity of your position in order for you to consider your options.
Experience of Rent Review Instructions
The above brief overview identifies the benefits of triggering rent reviews for landlords as well as the reasons why minimising the increase for tenants can help mitigate risk by minimising overheads.
We have access to a national database of information via agents who are able to assist with local market information which enables us to achieve the best possible outcome for you.
We have access to the best commercial property market data which will enable us to provide you with accurate information in the rent review process, assisting you with budgeting and mitigate the risk of an unwanted outcome during the negotiations.
Our dedicated team is experienced in identifying pertinent issues at rent reviews, namely:
• Time: is time of the essence?
• Notice Periods: are there any notice periods of which you need to be aware?
• Onerous Clauses: are there any onerous clauses within the lease?
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