|
Additional Services - Rent Reviews and Lease Renewal |
PDF |
| Print | |
E-mail |
|
Written by Administrator
|
|
Thursday, 04 March 2010 11:50 |
RENT REVIEWS & LEASE RENEWAL  Whether you are an owner of a commercial property or a tenant, you should seek professional advice well in advance of the end of the lease, when you will have to negotiate a rent review or lease renewal. Our advice will help the process run smoothly and ensure you receive the best outcome. About rent reviews and lease renewal Most leases make provision for rent reviews, usually after a three-year or a five-year period, and will set out a detailed procedure. Rent reviews may be in the form of fixed rental increases, or indexed rents where the rent changes in line with a measurement such as the Retail Price Index.
Many leases will include an 'upward only' rent review meaning that the rent will rise regardless of price drops in the area. Leases will also include details of the process for settling disputes. Negotiations can often be difficult and protracted, especially if there are disagreements on either side. It is always recommended that an independent expert such as a chartered surveyor, who will be able to help you negotiate a fair rent for the property, is appointed well in advance.
How can we help? A pre-requisite to being able to negotiate a successful rent review or lease renewal is a detailed understanding of the market and recent trends and deals, which are a by-product of a successful agency business. We have extensive knowledge of both the marketplace and up-to-date legislation.
We can undertake a detailed review of the lease together with rental appraisals of most commercial properties. Our team will assist in negotiations and disputes with the aim of ensuring that a fair rent is set. As a landlord you will maximize the performance of your investment. As a tenant, you can minimize your costs.
Our expertise can make a significant difference to the outcome of your review negotiations. In addition, where the other party is represented, good relationships and mutual respect between other local surveyors and us is guaranteed. This ensures that reasoned arguments can be presented and accepted as such by each side, minimizing the risk of a confrontation and subsequent delays and additional costs.
Development If you are considering development we can help you through the process from the planning application stage to the completion of building works. Contact usReality Properties - Professional Property Services.
www.Realityproperties.co.uk
1 Gunthorpe Street, Unit 2 Nagpal House, London E1 7RG
T: 020 3355 0908
F: 020 3355 0907
E:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
|
|
Last Updated on Wednesday, 18 August 2010 11:33 |
