Lease Renewals and Rent Reviews

Leases and Lease Terms are becoming increasingly complex, and both lease renewal and rent review work requires a thorough understanding of the terminology used within leases, coupled with extensive market knowledge. We advise both Landlords and Tenants, and will interpret leases and evaluate market conditions to provide the appropriate advice at either a Rent Review or Lease Renewal.

Lease Renewals

Most business tenancies in England and Wales are protected by the Landlord & Tenant Act 1954. The purpose of this Act is to provide businesses with security of tenure.

So long as the business remains in occupation of the premises and follows all the correct legal procedures, you have a right to apply to a court for a new tenancy if you are protected under the Act. The landlord is allowed to oppose your application in certain circumstances.

If you cannot reach agreement with the landlord, the court will decide whether you should be offered a new lease and on what terms.

The terms of a new lease may be settled by negotiation between the landlord and tenant or by their respective chartered surveyors.

We can advise you on your options and the terms that you might realistically achieve. The rent will usually be agreed at the current open market level for properties of a similar type in your area. We have the experience to help you settle any disputes in a professional and cost effective manner.

Rent Reviews

Rent reviews take place at whatever intervals are agreed in the lease. Their purpose is usually to adjust the rent to the current market level at the review date. Rent review clauses in leases are often long and complicated, partly due to the fact that each lease will reflect the needs of the particular occupier to whom it relates.

Our team of chartered surveyors can help you to understand the implications of the rent review clauses in your own lease and assist you in agreeing a new rent for the property in a professional and equitable manner.