Our specialists focus on negotiating and reducing property costs for tenants.
Our specialists can help Clients manage their property costs and negotiate a fairer deal with their landlord wherever circumstances allow
Agreeing the best deal at rent review comes down to correct interpretation of the lease terms, together with strong negotiation skills incorporating accurate market information from analysed rents of comparable properties. There are several issues with rent reviews that need to be taken into consideration such as the timing of notices as well as any pertinent case law.
Our expert team of professional Surveyors with detailed local market knowledge can help negotiate the best result for you at rent review. The landlord can retrospectively trigger rent review proceedings and dependent on the terms of the lease will likely be able to apply interest charges to backdated rental increases.
Unless a lease has been specifically excluded, the Landlord & Tenant Act (1954) defines statutory requirements and timetables to be followed at lease renewal. Negotiating a new lease is a highly tactical area and there are a number of pitfalls that could result in the loss of the automatic right to renew the lease.
Our experienced Chartered Surveyors can evaluate the prevailing market conditions to ensure the best results for our Clients at lease renewal, and liaise with solicitors to ensure the process runs smoothly to completion. If the new lease terms cannot be agreed by negotiation, our team have experience of taking the matter through the Court or PACT process to conclusion.
A landlord can serve a Schedule of Dilapidations at any time during the lease term, itemising repair works required to the building to ensure compliance with the repairing covenant in the lease.
We can offer advice to our Clients on all aspects of building repair, from preparation of a Schedule of Condition of the property at lease commencement to document the condition of the building, to acting on a dilapidations claim at lease expiry.
Re-gearing a lease is the practice of re-negotiating your lease terms during the course of the contract and can help occupiers reduce costs and provide improved business flexibility. This can be done at any time throughout the term, although key event dates such as rent reviews, break dates and forthcoming lease expiries offer good opportunities for tenants to trigger negotiations with their landlords. Many landlords are willing to negotiate a reduced rent or rent free period in return for commitment to a longer lease term, which has a positive effect on the investment value of the property.
In the current economic climate, re-gearing is a way to help both landlord and tenant achieve their goals and is seen as a ‘win- win’ situation. The flexibility of re-gearing means there are many ways to tailor the process to specific circumstances and both parties should be able to reach a mutually beneficial agreement quickly.
If you would like to discuss transforming your procurement function, please call: +44 (0)203 693 7275 or click here to email us