ADB | RENT REVIEWS |
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their lease subject to landlord’s
not to be unreasonably The lease will further
specify whether a the whole or parts is also permitted.
sub-letting of of the property
Any unusual restrictions on alienation provide opportunities for tenants to negotiate a discount.
Building Service Charges Where a tenant occupies part of a multi-let property, the landlord is generally responsible for repairs to the structure, exterior and common parts of the building and will cover his portion through a service charge.
For some buildings, older ones in
particular, the service charges
considered at rent review as to
reflect this. There might be other variations in the service charge structure where for example the
takes responsibility for but does not fully recover
this which will higher rental.
Other Lease Terms There are a range of other terms that could reduce or enhance rental value and it important that the whole lease is assessed to establish this.
researching market rents & comparables
This is typically the most time consuming but certainly the most
a: 24 Old Burlington Street, Mayfair, London, W1S 3AW
important component of any rent review process.
It is also important to consider comparables in a wider geographical area and access to comprehensive market databases is essential in this regard.
Andrews access property including to
Denford & Boyd has all the UK’s leading information databases Property Intelligence,
Focus, Costar Group, Real Estate Information and EGI Databases.
These organisations employ a considerable number of staff and resources in compiling market transactions and rent review evidence, coupled with lease details of buildings across London and the south east. However, whilst these are essential tools, this information is only usually
is important for the surveyor to undertake
rent review detailed and
speaking to professional
representative original letting
who handled the or rent review of
the subject comparable premises.
Clearly it is in everyone’s interest to achieve settlement of the review by negotiation.
representatives do not always behave reasonably, however, and sometimes it is necessary to apply greater pressure to reach a settlement or to proceed toward determination by third party.
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