Most leases with terms of more than 4 or 5 years will contain a provision for a rent review. The review will provide the Landlord with an opportunity to increase the rent in line with current open market values. Reviews carried out over the last few years have seen a period of dramatic rental increase and as a result quoting rents have risen sharply. As a Tenant's major operational cost, we recommend professional assistance to ensure that this cost is kept as low as possible.

At London Professional Surveying Services we have extensive knowledge of up to date case law which can effect the outcome of a review together with broad based market knowledge. There are sometimes provisions within a rent review clause which could make the review time sensitive. Tactics are crucial during this period of review and it is important that discussions commence at a time which optimises the tenant's position. Therefore it would be beneficial for you to contact us at least one year before the review date.

We usually work on a performance-related fee in settling your review. However, in accordance with RICS guidelines we are required to charge a time-related fee if the matter progresses to a third party. We will only recommend a third party settlement if it is in your best interests to do so. We have experience of preparing evidence for the arbitrator or expert and also the negotiating and advocacy skills that are necessary to deal effectively in these circumstances.

Lease Renewal

When a lease comes to an end either through the use of notices or effluxion of time, a Tenant has to make a fundamental decision on whether to renew the current lease and remain in occupation, or move to another property.

At London Professional Surveying Services we will assist you in making this decision by ascertaining the short, medium and long-term goals of your company, and the way in which a property will facilitate these goals. We will carry out a market appraisal to ascertain the costs of remaining in your current premises and will provide a well researched summary of alternative options.

If you choose to remain in your premises then there are essential steps you must take to ensure your position is fully protected. Firstly, if your lease is within the Landlord and Tenant Act 1954 then notices have to be served at the appropriate time. If the lease is outside the provisions of the Act, then negotiations for a new lease may need to take place much earlier in order to protect your position.

We strongly advise businesses to start considering strategy at least eighteen months prior to the lease expiry date. London Professional Surveying Services will be delighted to meet with you for a "no obligation" first meeting to discuss these issues in greater detail. We have the skills and working knowledge necessary to ensure that the outcome is in your best interest, whilst costs are kept to a minimum.