Rent Review

For both owners and occupiers, a rent review is an important lease event. SFP Property works with all parties to achieve a result in line with their strategic goals, in terms of income generation or control of overheads.

Each instruction is handled by the surveyor with the most appropriate local expertise on current market transactions and rental levels to ensure that landlords receive the correct market income or that tenants pay a fair rent.

The Rent Review Process

A rent review is a contractual process, typically occurring every three to five years, because of this SFP Property provides timely assistance and guidance in order to be as fully prepared as possible and to be put in the best negotiating position.

This preparation includes an assessment of current market conditions, along with detailed analysis of the often complex rent review provisions contained in the lease.

Issues taken into account during the review process include:

• Specific improvements included or excluded from the review;
• The timetable for conducting the review, including deadlines for notices and counter notices;
• Accurate measurement of floor area;
• The options available for dispute resolution; and
• Interest charges and back rent for late settlement.

By engaging SFP Property early in the rent review process, clients avoid the risks associated with last-minute assessments and missed deadlines, which can result in financial loss for either the landlord or the tenant.

Resolution of Rent Review Disputes

The SFP Property approach is to mitigate the risk of disputes with detailed market research, thorough assessment of the lease terms and a formalised rent review timetable. Where disputes do occur, negotiations are conducted in a firm, fair and professional manner to achieve the best possible outcome for the client.