Don't assume your Rent Review is straight forward — your lease, the market and negotiation are key.
The market is changing. As demand is returning, the restriction of supply is seeing rents rise. This means that the rent reviews which have simply been recorded at a nil increase for the past 7 years can no longer be dealt with in such a straight forward manner.
From a landlord’s perspective the opportunity is here to actually trigger the rent review clause within the lease to their advantage, and generate the rental growth that is reflected in the market.
From a tenant’s perspective this is not a time to sit on your hands. A well advised tenant will understand the implications of a rent review clause and that this is not a matter that should be dealt with lightly because it sets a benchmark of rent for the remainder of the lease, however long.
Within our team at FHP we have specialists experienced in dealing with office rent reviews acting for both landlord and tenant.
Our team is also experienced in providing expert witness evidence at third party where matters have proceeded to arbitration or expert.
For an initial chat to see how we can help please contact one of the team below.