Rent reviews are an opportunity for landlords to increase the rental price of a property at set increments during a lease, thus earning more from the property. At the same time, tenants will use rent reviews to minimise the amount of rent being paid at each review. This is a negotiation between the leaseholder and tenant, and something we can help with at Williams Sillitoe.
Our team can act for both landlords and tenants by providing advice on rent reviews for commercial properties across South Manchester and Cheshire.
How Can We Help With Rent Reviews?
We can help tenants and landlords on an individual basis, according to the terms of your lease and what you want to achieve from a rent review. Depending on who we are advising, the focus will differ. Landlords, for example, will want to maximise asset value and rental income, while tenants will want to keep their costs down.
Who Can Benefit From A Rent Review?
Both a landlord and tenant can benefit from a rent review. The obvious advantage is the continuation of a prosperous agreement where both parties benefit, but the negotiations can be complex to make sure neither side will walk away and look for other opportunities.
In some cases, such as a change to business models or changes in the market, it can be beneficial for a restructure of the lease. During this phase, having expert advice on what you should watch out for and what you should aim to achieve can help keep the discussions focused. This is where our expert advice and support on rent reviews can help.
Find Out More About Rent Reviews
Rent reviews are fantastic opportunities to make sure the agreement to stay in, or have a tenant in, a commercial property is advantageous. Knee jerk reactions can often lead to the ending of an agreement, and it takes time to start a new one – which is income lost or time without a space for your business – so it’s in everyone’s interest to resolve the review as thoroughly as possible.
If you’d like to know more about rent reviews, and how our experts at Williams Sillitoe can help, get in touch with us now.