The field of property leases, renewals, rent reviews and terminations can be complex for both landlords and tenants. As RICS Chartered Surveyors and Valuers, we can act for and guide either party, negotiating a satisfactory conclusion.
Commercial leases of any significant duration will provide for the periodic review of the rent. Understanding the rent review mechanism, lease covenants, physical property layout and prevailing market conditions at each date of review is essential in ensuring the correct level of rent is assessed. We act for both landlords and tenants in negotiating settlements and where necessary prepare written expert witness valuation reports, CPR compliant (see below) to assist at third party proceedings (Arbitration or Independent Expert Determinations).
With any commercial lease renewal there are both legal and valuation considerations to be taken into account, including timing of statutory notices and the manner in which contested issues are to be resolved. We act for both landlords and tenants in negotiating the lease terms for new leases and where necessary prepare written expert witness valuation reports, CPR compliant (see below) if the unresolved matter proceeds either to the County Court or Arbitration.
In preparing or defending any dilapidation claim the ramifications for not being correctly advised can be far reaching. Understanding the intention of the parties, the lease covenants, and relevant case law are all important in ensuring a satisfactory outcome for the parties to the lease. We have considerable experience in dealing with all such matters.
Schedules of condition
We prepare written and photographic schedules of condition to record the present condition of buildings and land for a variety of purposes including to limit a tenant’s liability under a lease.
Licence to alter
We assess the leaseholder’s proposals to alter or extend and advise landlords on the suitability of the work and compliance with Statutory and other requirements as part of the process for granting a licence to alter.
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