You are the freeholder, intermediate leaseholder, or leaseholder of a flat, house or commercial premises and need advice for the negotiation of a rent review; or lease renewal under the Landlord and Tenant Act 1954 for commercial premises, Leasehold Reform, Housing and Urban Development Act 1993 for flats, or Leasehold Reform Act 1967 for houses.
For the extension of leases of residential premises see Lease Extension for flats; and for houses Can my tenant or their purchaser enfranchise the house? if you are a freeholder or intermediate leaseholder; or Can the house be enfranchised? if you are a leaseholder or purchaser.
We have dealt with Market Rental Value rent reviews and lease renewals for a variety of residential and commercial premises such as flats, houses, shopping centres, shops, supermarkets, retail warehouses, garden centres, offices, and industrial estates, including the preparation of reports for Third Party Determination.
Rent Reviews and Lease Renewals – Residential and Commercial – Report on Market Rental Value and Strategy.
We are able to report on the Market Rental Value for rent reviews and lease renewals of residential and commercial premises, and the strategy for negotiations.
Rent Reviews and Lease Renewals – Residential and Commercial. Process to report on Market Rental Value and Strategy for Negotiations.
In order to report on the Market Rental Value for rent reviews and lease renewals of residential and commercial premises, and the strategy for negotiations, we as Chartered Surveyors, Regulated by RICS, with Registered Valuers that are experts in valuations for rent reviews and lease renewals of residential and commercial premises can:
- inspect the flat / house / commercial premises;
- calculate the floor areas;
- research the market;
- consider the implications of any tenant’s improvements; and
- report on the Market Rental Value for rent review or lease renewal purposes on the relevant valuation date.
We take account of comparable evidence and any other factors that impact on Market Rental Value for rent review or lease renewal purposes. We also have regard to the terms of the leases, deeds of variation, and licences for alterations etc. We advise on the Market Rental Value for rent review and lease renewal purposes at the valuation date.
Rent Reviews and Lease Renewals – Residential and Commercial. Negotiations.
After reporting, we negotiate the rent review or lease renewal to maximise the return on your investment if you are a freeholder or intermediate leaseholder, or at as low as possible Market Rental Value if you are a leaseholder.
Rent Reviews and Lease Renewals – Residential and Commercial. Examples of recent work.
We have recently:
Rent Review – residential: Reported on the premium likely to receivable for the extension of a lease, and on how this might be affected, if correct that the ground rent is to be reviewed to the Market Rental Value of the premises for its previous retail use prior to being converted to residential. As recommended to the client, subsequently obtained an Opinion form Counsel.
Rent Review – residential: Reported on the premium likely to be receivable for the variation of a lease to remove the market linked element of provision that the rent should increase every twenty five years to the greater of double, assuming it doubles every twenty five years, or 0.5% of its value held on a term with one hundred and twenty five years unexpired.
Our services: We are able to advise on the Market Rental Value of a residential or commercial premises, and to negotiate rent reviews; or lease renewals under the under the Landlord and Tenant Act 1954 for commercial premises, Leasehold Reform, Housing and Urban Development Act 1993 for flats, or Leasehold Reform Act 1967 for houses. We are Chartered Surveyors, Regulated by RICS, with Registered Valuers that are experts in Rent Reviews and Lease Renewals of residential and commercial premises. We are also able to provide further information in relation to Rent Reviews and Lease Renewals – Residential and Commercial.
