Rent Reviews & Negotiations for Tenants
If your landlord suggests a new rent at rent review time, you should not just accept this without seeking proper advice. The landlord has to agree a new rent in accordance with the lease terms. Just because the rent figure offered seems fair compared to what other neighbours are paying, this does not mean this is what you should be paying.
Here at Burt Brill & Cardens Solicitors, we are experienced at handling rent negotiations for commercial property leases.
How a Rent Review Should Take Place
Most leases will contain detailed provisions governing how a rent review should take place. For example, they will state that the rent must be reviewed to the higher of the current rent and the ‘open market’ rent. The ‘open market’ is carefully defined in the lease and our experienced solicitors can help you decipher this.
The lease is likely to contain ‘assumptions’ and ‘disregards’ that are to be taken into account when the rent is reviewed. For example, it is assumed the property is in good repair and any work you have done to the property would be ignored. For advice on the amount of rent being demanded then you will normally have to speak to a valuer.
Contact an Experienced Solicitor
It helps to speak to a professional commercial property solicitor to make sure that the review is being conducted property and to prepare for negotiations with your landlord. Burt Brill & Cardens make no charge for talking to you about your rent review enquiry so call us today on 01273 604123 or email us: firstname.lastname@example.org
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