Rent Reviews & Lease Renewals

Rent Reviews & Lease Renewals

We believe a good lease should meet the needs and expectations of landlord and tenant alike. Working with your legal advisors, we will ensure your new, extended or amended lease provides a solid basis for a positive relationship throughout the life of the agreement.

There is no such thing as a standard lease or rent review, coupled with constant changes in the rules and regulations. Our long experience of, and daily exposure to commercial leases of all kinds means we understand every detail of the process and the pitfalls. We keep on top of the latest developments, know where the potential points of difficulty lie and, most importantly, how to address them to reach a mutually satisfactory agreement.

That’s because in our view, this is not – or should not be – a zero-sum game. Whether you are a commercial landlord or tenant, our aim in acting for you will be the same: to negotiate a lease both parties agree is fair and sustainable, at a rent in line with local market conditions. To achieve it, we will deploy all the knowledge, experience, understanding and diplomacy we have gained over many years, involving commercial properties and leases of every kind.

  • Rent Reviews

    A commercial rent review is the process of periodically adjusting the rent on a commercial property to reflect current market value.  These reviews typically occur every three to five years, as specified in the rent review clause of the commercial lease. The review ensures the rent remains aligned with the market and allows landlords to adjust rental income accordingly.

    We have over 25 years of experience in dealing with rent reviews throughout the UK. We will manage the whole process from start to finish, including working with all legal parties and other third parties in order to negotiate a favourable outcome, whether that be for a landlord or a tenant.

    If the landlord or tenant cannot agree on the rent, the lease may include provision for dispute resolution such as the appointment of an arbitrator or an independent expert and we can guide you through this process.  However, dispute resolution is always the last resort as this can be very expensive.

  • Lease Renewals

    A commercial lease renewal allows a tenant to extend their occupancy of a property under a new lease agreement. Both landlords and tenants can initiate the renewal process, typically by service of a notice within a specific timeframe before the lease expires. The process is governed by the Landlord and Tenant Act 1954 in the UK, which provides tenants with the right to request a new lease, subject to certain conditions.

    Many shorter leases within the UK are contracted out of the 1954 Act so no right to renew is granted. Care needs to be taken in this instance, that contact with the landlord is carried out in good time to request a new lease.

    This is your time to review the existing lease and propose modifications and modernisation as well as reconsider existing terms.

    We have over 25 years of experience in dealing with lease renewals throughout the UK. We will manage the whole process from start to finish, including working with all legal parties and other third parties in order to negotiate a favourable outcome, whether that be for a landlord or a tenant.

  • Property Compliance

    With any transaction we undertake full anti-money laundering identification and sanctions list checks on both parties.

  • Landlord Fees & Billing

    Rent Review: We charge a fixed fee of 7.5% of the agreed new yearly rent that is achieved. An interim fee is due when our valuation has been agreed by the client and the balance is due once the rent review memoranda have been signed and dated.

    Lease Renewal: We charge a fixed fee of 8.5% of the agreed new yearly rent that is achieved. An interim fee is due once Heads of Terms have been formally agreed and the balance is due upon formal completion of the lease.

    Our minimum fee for a rent review or a lease renewal is £1,950.

    All fees are subject to VAT.

  • Tenant Fees & Billing

    Rent Review: We charge a fixed fee of 7.5% of the initial passing rent and an incentive fee of 20% of any negotiated reduction in rent from the quoting yearly rent. An interim fee is due when we have assessed the value and the balance is due once the rent review memoranda have been signed and dated.

    Lease Renewal: We charge a fixed fee of 8.5% of the initial passing rent and an incentive fee of 20% of any negotiated reduction in rent from the quoting yearly rent. An interim fee is due once Heads of Terms have been formally agreed and the balance is due upon formal completion of the lease.

    Our minimum fee for any rent review or a lease renewal is £1,950.

    All fees are subject to VAT.