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Rent Reviews allow landlords to adjust their rents to reflect the current market level and mirror changes in the value of the property.
Predictably, rent reviews can often lead to disputes between landlords and tenants, with landlords seeking the highest increase of rent, and the tenants the lowest.
A long lease is an understandable choice for a business property tenant, as it provides a level of confidence and stability. The rent review provisions of a standard lease can, however, present a major nuisance if you suddenly find yourself faced with a substantial rent increase. Whether you are a tenant or a landlord, we are here to provide you with the legal advice and support you deserve.
Disputes can be drawn out and expensive, but with the right legal advice, you should be able to achieve a fair result. At Parrott & Coales we provide expert dispute resolution services for rental review cases.
If you are a landlord, Parrott & Coales can offer reliable legal advice on:
- Renegotiating lease terms to support the terms with your tenant’s business needs and achieve some value benefit
- Conversing with surveyors to accurately evaluate what new rent can be attained
- Exploring options regarding new ways to review rent, opposed to the conventional open market review (e.g. fixed stepped increases or increases linked to the retail prices index)
- Service of relevant notices and counter notices
- Parrott & Coales can advise on both residential and commercial properties
If you are a tenant, Parrott & Coales can offer reliable legal advice on:
- Review the terms of the lease which impact on the rent review
- Collect facts of recent market evidence
- Negotiate with the landlord the most favourable terms possible
- Prepare third party submissions if agreement cannot be reached