We have considerable expertise of dealing with rent review cases. We undertake valuations to determine the current market rent and we undertake negotiations with the tenant or landlord or their representatives. We also make representations to third surveyors in instances where an amicable negotiated settlement cannot be reached.
Our initial report will include the current open market rent and it will have full regard to the terms of the lease together with any relevant licenses such as deeds of variations or licenses for alterations and improvements.
Our report will include advice on the appropriate timescales as well as our recommendation of the strategy to adopt. For instance, in a market where the rental levels are rising, the landlord may want to consider delaying the service of the rent review notice.
We utilize the comparable evidence and recent and historic transaction details on our vast internal database and other external databases that are at our disposal as well as case law to undertake our valuations and negotiations.
In instance where amicable settlements are not reached, we would recommend making applications for the appointment of and also make submissions to Independent Experts or Arbitrators as per the requirements of the lease.
On completion of the rent review process, we prepare the rent review memorandum to formally record the settlement.