Commercial Property Rent Reviews
Rental contracts on commercial properties usually contain clauses that provide a mechanism for reviewing the rent on a stipulated periodic basis. This is typically every 3 or 5 years. As an independent, RICS Regulated practice, we are experienced in acting on behalf of both Landlords and Tenants in respect of handling Commercial Property Rent Reviews.
Rent Review Services
To provide accurate rent valuations, we firstly consider the rent review provisions within the lease. This can include ‘caps’ or ‘collars’ that determine the minimum and maximum scope of any adjustment to the rent.
We then visit and inspect the property taking note of improvements in, or deterioration of, the condition. This, along with our knowledge of local market conditions and current levels of demand (with additional research, if necessary) determines an accurate rental value for the property.
Periodic Rent Reviews
Periodic rent reviews ensure that both landlord and tenant have a fair agreement, in line with the market value. When it is time to review the rental value of a commercial property, we provide informed and accurate valuations.
Following our inspection and research, we provide a valuation report. In the current market, reviews typically result in an increase in rental payments. We will utilise our experience in commercial property negotiations to determine the best rent on our client’s behalf.
We are also equipped to provide professional services for Commercial Lease Renewals.
Learn more about Commercial Building Surveys
If you need help with commercial rent reviews, please give us a call today on tel: 01296 254800
or email us at info@neilmoranassociates.com and we’ll be delighted to help.