Commercial leases and tenancy agreements will typically include periodic rent reviews. These have been designed to help landlords to negotiate and adjust the rental income they generate from their property, based on its current market value.
As rent reviews commonly take place every 3 to 5 years – to help landlords charge a fair rental price – it’s important to stay on top of the issue. Our commercial property surveyors have all the specialist knowledge required to advise and act on the matter; and are well-placed to help those requiring a negotiation service.
Whether it’s for the landlord or the tenant, we can help with the interpretation of any legal rent review clauses and provide an amicable conclusion to you.
Commercial Property Surveyors
In order to secure the best deal, it’s vital to have an understanding of the local commercial property market. This will put you in a much stronger position when it comes to negotiating a more favourable rent price.
We always ensure that a fair market rent for both parties is made payable at the time of a Rent Review; taking all the relevant mitigating factors into consideration. Our surveyors in Sheffield do this by sharing their knowledge surrounding the legalities of rent reviews; which enables them to show you what rights you have when it comes to negotiation.
Surveyors in Sheffield
For tenants, rental payments are likely to form their largest business overhead; whilst for landlords, they will form the key income they generate from their property. The importance of the matter to both parties means that it’s essential to stay on top of the issue. By doing so, you can help to budget costs and also prepare for changes.
We can help with both the prevention of future difficulties and the negotiation of disputes that have arisen. If possible, it’s good to obtain an idea of where you currently stand with your rental review clauses in your legal documentation. We can help you to do this thanks to our expert understanding of the industry.
If, however, you’re a tenant and you find yourself in a position where you feel proposed rent costs are unfair, we can also assist here too. As long as you seek the help of our surveyors in Sheffield prior to binding deadlines, we can make sure that the price you end up paying to renew in your commercial premises is fairly reflected in line with the current property market.