Throughout any lease, expert advice is invaluable in ensuring that the best possible terms are achieved. Paul Rabbette Ltd. can guide you through the complexities of commercial rent reviews, lease renewals or re-gears. We will negotiate on your behalf to achieve the best outcome possible for you.
From the very beginning, the level of rent being paid will define the profitability, and thus the success, of a business – it is the highest occupational cost of all. Getting it right is therefore vital. Whether facing commercial rent reviews or lease renewals, or a potential relocation, our advice can reduce your business costs and improve your profitability. The Lease Advisory Team at Paul Rabbette Ltd. advises both landlords and tenants on all types of commercial property.
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We have a great deal of experience in acting for tenants of commercial properties at rent review, lease renewal and mid-term lease renegotiation. We apply a combination of in-depth research with a firm negotiating stance to result in the best possible outcome for our clients.
With rent reviews, a proactive approach is always the best way to ensure that the lowest rent possible is achieved. We recommend that tenants start to consider a rent review at least 6-9 months prior to the review date.
With lease renewals, again, a proactive approach will result in the best outcome and we recommend starting to consider a lease renewal at least 12 months prior to lease expiry. If the current rent in the lease is excessive, ensuring the correct notice is served as soon as possible is vital to receiving a reduction in rent. Unfortunately, the later the notice is served the later the potential reduced rent will be payable from. Equally, if it is likely that your rent will increase then gaining an understanding of the level of increase and what can be done to mitigate that is important.
Our surveyors have acted for an array of different landlords over the years, from private individuals all the way through to large pension funds. Our input will ensure that you achieved the most favourable terms possible depending on your specific objectives as a landlord; whether that is maximising value, increasing certainty or maintaining a positive relationship with your tenant.
We combine a detailed understanding of the commercial property market and the relevant law with practical experience to ensure that the best terms possible are achieved for our clients.
Third Party (Arbitration, Independent Expert Determination, etc.)
With all of our Lease Advisory instructions, wherever possible, we aim to reach an amicable agreement with the party that we are negotiating against. However, the reality is that a negotiated outcome is not always possible and sometimes Third Party determination is required.
We have a strong track record of representing our clients at Third Party. In this situation one of our surveyors will act as an Expert Witness, presenting the evidence which justifies our opinion of rental value to the Third Party. Crucially, they will also fully investigate and, where necessary, provide a critical response to the opposing Expert Witness’s evidence.