We advise Landlords and / or Tenants throughout their relationship with each other, covering all aspects of the lease cycle.
Whether you are a Landlord or Tenant, we can advise you throughout the rent review process.
We will normally carry out an initial rental assessment to provide you with our opinion of the level of rent which should apply, having regard to the terms of your lease. Depending on the outcome of our initial assessment and following your further instructions, we can act on your behalf and negotiate with the other party to ensure agreement of a favourable rental settlement.
Most business leases benefit from Security of Tenure, meaning that Tenants have a right to renew their lease in certain circumstances in accordance with the Landlord & Tenant Act 1954, as amended.
The decision of when and upon what terms to serve Notices can be tactical depending on whether the current passing rent is higher or lower than the Market Rent and Courts can take a dim view on serving Notices with unrealistic terms. It is therefore essential to obtain valuation advice at an early stage.
We would normally advise a Landlord or Tenant 6 – 18 months prior to the expiry date of the lease to ensure that the correct action is taken to protect their position and to ensure that the appropriate Notices are served within the required timescales, in conjunction with your legal advisors.
We can continue the process, dealing with any negotiations right through to the completion of a new lease. If at any stage the Tenant does not wish to renew a lease, our Commercial Agency Department can deal with the re-letting, sale or acquisition of a property.
Surrender and Renewal / Lease Restructuring
Whether the Landlord wants to sell the property or the Tenant wishes to extend a lease before investing in their business, there are times when there are advantages for either party to restructure their existing lease.
We can advise you by first understanding your requirements and assessing the benefits to both parties, followed by engaging with the other party on your behalf to negotiate an agreement that is acceptable to both sides.
Contact one of our surveyors to discuss your requirements and to see how we can help you. To provide a tailored quote we will require the property address and brief lease terms.