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ADB | RENT REVIEWS |

"I have no hesitation in recommending Andrews Denford & Boyd as a superb advisor on all property matters and look forward to working them again in the near future"

their lease subject to landlord’s

consent, withheld.

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.

Comdisco

For some buildings, older ones in

particular, the service charges

be

somewhat

higher

than

may the

normal pattern

for

comparable

properties and

this

should be

considered at rent review as to

whether negotiate

there

is

scope

a

discounted

rent

to to

reflect this. There might be other variations in the service charge structure where for example the

landlord repairs,

takes responsibility for but does not fully recover

this which will higher rental.

conversely

justify

a

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

www.adblondon.com

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

adequate

to

provide

a

snapshot.

It

is important for the surveyor to undertake

rent review detailed and

thorough research

the

relevant

by

speaking to professional

representative original letting

who handled the or rent review of

the subject comparable premises.

negotiation resolution

&

dispute

Clearly it is in everyone’s interest to achieve settlement of the review by negotiation.

Landlords

and/or

their

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.

t: 020 7494 0377

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