Rent Reviews - Professional Services - Drew Pearce Estate Agents and Chartered Surveyors
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We offer market based, expert advice to both Landlords and Tenants on rent reviews under existing leases. Rent reviews normally occur at 3 or 5 year intervals.
Both parties often have different aspirations in respect of the outcome of a rent review and the professional surveyors at Drew Pearce offer a significant level of skill and expertise in acting for both landlords and tenants to negotiate the best settlement in an increasingly complex commercial environment.
The main aim for the landlord is to achieve the highest settlement possible in order to protect the capital value of their investment. Drew Pearce’s professional surveyors undertake comprehensive market analysis which, together with their experience in the drafting of rent review clauses which can significantly affect value, leads to the best outcome being achieved.
When acting for tenants, we strive to achieve the lowest settlement possible. Again using our experience in both market and lease analysis, we are often able to utilise onerous lease drafting and physical factors in properties to keep new rental levels at the lowest levels.
Unfortunately, a significant number of tenants are unrepresented at review and this often creates a distortion within the market place. Whilst there is no obligation for tenants to appoint a surveyor to act on their behalf, early advice is often critical in negotiations as well as in future business planning.
When an agreement cannot be reached between landlord and tenant, the surveyors at Drew Pearce are experienced in acting as Expert Witness for both landlords and tenants where the outcome of a rent review is referred to a third party such as an Arbitrator or Independent Expert. Such expertise in this area of Landlord & Tenant work practice is crucial.
Our service includes accurate analysis of market conditions examining the documentation and property inspections. Our fees can be performance based to suit the requirements of the client and this service provided in addition to our Property Management capability.