In some leases that are typically over 5 years long, there is a clause in the contract that allows the rent to be reviewed to market rent.
Whether you are a landlord with a Rent Review falling due or a tenant who has just been notified by the landlord that they want to take action to review the rent, we can assist.
We can apply our property knowledge to facilitate this process, and give you guidance on the market rent.
Sometimes, it is uncertainty that drives matters, and rents can indeed not have increased. However, if you are the landlord and would like guidance, to see whether your property’s value has increased and therefore the rental income potential, you can ask us to provide an appraisal.
If you are the tenant faced with the prospect of a rent review and you are unsure if it is reasonable or not, we can assist.
Our role could be to negotiate on your behalf, under take a review of the market evidence, and aim to settle a review as expediently as possible.
Communication is key, and you can be sure to trust that you will be kept advised every step of the way.
We were able to secure a stepped rental review on a property, on behalf of the landlord whereby the rental increase was staggered from year 5 to year 10.
This assisted the landlord secure his tenant on a sustainable basis, and also provided the tenant with security and empowered them to know their projected rental outgoing, without putting them under financial strain. It was a compromise achieved through strong negotiations.