Commercial Rent Review

RobAMerc

Hi folks,

I am helping an elderly relative with managing a commercial property he has let out.
He says there is rent reviews accommodated for in the lease.

Does anyone know the normal procedure here with regard to us performing this ?

Thanks for your help.
Rob

davindub

The provisions for rent reviews vary a lot depending on when the lease started etc. All the details will be in the lease.

Oral Surgeon

In my own experience, most commercial leases allow for rent reviews st 5 year intervals.
The rent can be increased or decreased to the going rate for that type of unit in that area.
The tenant may challenge this and has the right to independent arbitration but this will likely agree with the "going rate".
This is easily sourced on the commercial property price register for rents....
Rents were cheap 5 years ago so you should be able to bump it significantly now...
Lease allowing and one must factor in if you are trying to keep he tenant sweet and if the tenant has a long lease with no break clause.

Long lease and no break clause then a landlord can screw a tenant at rent review time....

RobAMerc wrote: »

Hi folks,

I am helping an elderly relative with managing a commercial property he has let out.
He says there is rent reviews accommodated for in the lease.

Does anyone know the normal procedure here with regard to us performing this ?

Thanks for your help.
Rob

antoinolachtnai

I would really consider getting the advice of an agent on this if your relative is willing.

The_Conductor

Big time- you *need* a copy of the lease- and you need advice from someone competent who has experience in dealing with commercial leases/reviews of them.........

Before you do anything whatsoever- get a copy of the lease.