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Rent Reviews and Lease Renewals
When a company rents a commercial space on a lease, there are usually agreed times when the landlord can review the rent. These are called 'Rent Reviews'. Property prices fluctuate depending on circumstances, and so too do property rental values.
When a rent review occurs, the landlord can ask for an increase in rent based on the terms agreed within the lease - in effect the lease is a contract between two parties and the words within it explain the commitments and agreed facts in relation to the rental, including this review of the rent.
Ravens have vast experience in valuing commercial rental values, particularly in terms of rent reviews, acting for tenants and landlords, specialising in giving rental valuation reports and then negotiating to get our clients the best deal possible.
Lease Renewals are similar to rent reviews, as a rental valuation is required. This occurs when the lease expires after the agreed set term (such as 3-years, 5-years, 12-years etc).
The process is more complicated than a rent review, and the rules for how to conduct a lease renewal are found in the Landlord & Tenant Act 1954.
It is our job to guide you through this process and ensure that rental value is optimised for your circumstances and the legislative process is followed.
Commercial properties we specialise in include:
Shops, restaurants, offices, warehouses, factories,
medical practices, gyms, places of worship,
community centres & children's nurseries.
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