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Chartered Surveyors, Valuers and Commercial Property Estate Agents for Staffordshire, Cheshire and Shropshire

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Rent Review and Lease Renewal

The complex world of Landlord and Tenant law can be confusing for most owners and occupiers. We focus on strategic business issues of lease renewals and rent reviews across the main office, industrial and retail sectors. Acting for both landlords and tenants, our experience and expertise allows us to maximise our clients’ objectives for the best possible outcome.

Lease renewals

The end of a lease offers landlords and tenants the opportunity to consider whether they wish to agree a new lease. Often, the renewal process involves a formal procedure which is set out in the Landlord and Tenant Act 1954. We can provide sound, clear advice on the mechanics of the Act and undertake extensive research into current market activity to provide advice to our clients. Our involvement can ultimately include advice on an assessment of the market,  appropriate lease terms, rental advice and negotiation of renewal terms for agreement.

Rent reviews

A rent review presents an opportunity for the landlord to increase rental income at set increments of a lease. Conversely, tenants will seek to minimise the rental out-going at review stage. We act for landlords and tenants to provide rental advice on rent reviews, on an individual basis, according to the terms of your lease. For landlords we advise upon opportunities to maximise rental income and asset value.

Circumstances often change for both landlords and tenants and it may be mutually beneficial for both parties to re-structure the lease. There will be factors that can work both for and against a landlord or tenant in this process. Our expert market knowledge and negotiation skills can be used to ensure our clients objectives are met.

Due to the complex nature of a rent review, where disputes occur, rent review clauses are typically provided for referral to an Arbitrator or Independent Expert (referred to as the Third Party).  We’re very experienced in preparing expert witness reports, setting out key issues and evidence to Arbitrators and Independent Experts, and advising clients on the best way to mitigate cost exposure at third party.

For further advice on rent reviews or lease renewal negotiations, call 01782 715725, or email enquiries@rorymack.co.uk where one of our team will be happy to help.