Currell is able to prepare rent reviews or lease renewals tailored to the facts of your case. Our experienced team address technical and legal issues, as well as market evidence and conditions. Where disagreements occur between two parties, Currell employ methods to successfully resolve the dispute and advise our clients on the best way to mitigate costs.
Rent Reviews
The purpose of a rent review is to adjust the rent to current market levels. When premises are subject to a lease, this will usually provide for the rent to be reviewed at regular intervals, typically every three, four or five years. The level of rent is determined by the location, the specification of the property, the lease terms and the market evidence (based on comparables).
We will undertake the often complex negotiations on your behalf.
If the rent cannot be agreed between the landlord and tenant there is usually provision in the lease for the dispute to be referred to an arbitrator or independent expert. We will be able to prepare a submission and counter representations for this purpose.
Lease Reviews
Currell can advise you on the various Lease Renewal options that are open to you and the terms that can realistically be achieved in the market. The terms in the lease, such as repairing covenants, permitted use and the right to assign or sublet the premises, will have an effect upon the rental value and we will be able to make the appropriate adjustments.
When the lease comes to an end, this may well provide you with an opportunity to improve various terms of the lease.
If the lease is inside the security of tenure provisions of the Landlord & Tenant Act 1954, as amended, there is a strict procedure in bringing the old lease to an end. There are limited grounds on which the landlord can oppose the grant of a new tenancy. Early legal advice is recommended, whether you are the landlord or tenant.
If the terms cannot be agreed between the landlord and tenant, there are methods of resolving the dispute, including county court proceedings and PACT.
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