Rent Reviews & Lease Renewals

Our experienced team of commercial property agents provides sound strategies and solid advice for rent reviews and lease renewals.

Our knowledge of market conditions coupled with our careful research means we are perfectly placed to handle even the most complex of negotiations and difficult arbitration & expert dispute resolution processes.

We work closely with landlords and tenants to provide practical and professional advice that delivers the best possible outcome and ensures that future negotiations are as smooth and as beneficial as possible.

Rent Reviews

Some of the benefits of Carr & Priddle’s rent reviews service:

  • Accurate rent assessment and recommendations
  • Provides you with a true market rent value
  • In-depth understanding of market conditions
  • Allows landlords to understand their investment potential

Lease Renewals

Some of the benefits of Carr & Priddle’s lease renewals service:

  • Sound lease advice that you can rely on
  • Detailed assessment of leases to ensure the best possible terms for our client
  • Expert handling of complex and difficult negotiations or disputes
  • Plan business growth and development over the lease period
  • Allows landlords to understand their investment potential
  • Settlement recommendations and advice for court referrals and professional arbitrations

Speak to one of our experts

For further information about rent reviews and lease renewals, or to get lease advice, please contact our friendly team.

Meet our team of experts

Michael Barber FRICS

Director

Michael has more than 25 years’ experience having worked in the construction industry since graduating from university. His vast experience covers both social housing and the private sector, particularly compliance. Michael very much enjoys the variation of his role as director of Carr Priddle Management, including dealing with agency matters, surveys and property management – all of which keeps him on his toes! In his spare time, Michael relaxes by walking his miniature Schnauzer and enjoys gardening and cycling.

07887 621824 michaelb@carrpriddle.co.uk

Michael Barber FRICS

FAQs

What is a commercial property rent review?

A commercial rent review is the process of assessing the rent paid on a commercial property and adjusting it in line with current market conditions. The majority of property leases will specify that rent can only be increased or stay the same, even if market prices are falling.

How often do rent reviews occur?

Generally, commercial rent reviews will take place every three to five years. However, the exact time will depend on what is specified in the terms of the lease.

How is commercial property rent calculated?

There is a variety of ways commercial property rent can be calculated. These include:

Open market value – this is when the rent is based upon the property’s current market value i.e. how much it would be listed for on the open market. A professional commercial property agent is required to provide an accurate assessment of current market conditions.

Turnover – most commonly used in the retail sector, this is when rent charges are calculated based on a business’s financial turnover. However, a minimum rent level will apply.

Periodic – this is when rent will increase at regular intervals, usually in line with the RPI (Retail Price Index), as set out in a property’s lease agreement.

What is a typical commercial rental increase?

This depends on market conditions and the terms of a property’s lease. On average, rent for commercial properties will increase by approximately 1% to 2% annually in line with the RPI (Retail Price Index).

Can a commercial landlord increase my rent?

Yes. However, this will depend on the terms of the property lease as to when and how often rent will be increased. We strongly recommend that you fully understand the terms of a lease before committing to any property.

Can a commercial property landlord evict a commercial tenant?

This will depend on the details specified in a property’s lease agreement. However, a landlord can evict a tenant for a number of reasons, including if a tenant is in violation of the terms of a property lease or fails to pay the rent.

What do you need to rent a commercial property?

Before renting a commercial property you will need to provide information that shows you will be able to cover rent and other associated costs. This includes providing paperwork and proof, such as your personal credit history, company balance sheet, profit and loss statements, open credit lines and growth projections. For small companies or start-up businesses, owners will usually be required to sign a personal guarantee.

What should I know before buying a commercial property?

Before committing to a commercial property investment you should always seek the advice of a professional such as a qualified surveyor or an experienced commercial property agency, such as Carr & Priddle.

What is a good return on a commercial property investment?

A good rental yield will be around 5% and upwards.

What is a lease renewal?

A lease renewal relates to the legally binding contract that sets out the terms and conditions to be agreed between landlords and tenants for the rental of a property. This includes information about how a property can be used for business and commercial purposes along with when rent reviews will take place. It is highly recommended that landlords employ the services of a professional commercial property agent, such as Carr & Priddle, to deal with lease renewal negotiations on their behalf.

What is a commercial property landlord responsible for?

Commercial property landlords are responsible for ensuring that leased premises are safe and in good order and repair at the start of the lease period. Landlords need to ensure that property is properly maintained and that they make all the necessary repairs and replacements to keep buildings in a good and safe condition. Responsibilities should be clearly stated in a property’s lease.

What are commercial tenants responsible for?

A commercial tenant’s responsibilities should be clearly stated in a property’s lease. This includes paying for items such as building insurance, service charges and ground rents.

Testimonials

Don’t just take our word for it. Find out what our clients have been saying about our commercial property services.

“Simon acts for us in finding and acquiring restaurant premises and providing consultancy advice in a personal but at the same time very professional, knowledgeable and enthusiastic manner”

Ramin Mostowfi, Director, Warmhaven Limited

“I have worked with Carr & Priddle since our company began, their bespoke service always shines, and they have exceeded expectations on every one of our projects. They are the first I recommend as all round commercial property professionals.”

Mark Woolley, Founder & CEO - Electric Salons

“Finding the perfect spot to grow our business from was a tough challenge, until we were lucky enough to meet the team from Carr & Priddle. We had been looking for over a year without success for the perfect building to house our growing agency. Within 5 weeks of engaging them we had found and secured our dream property, a Freehold commercial building in the centre of Brighton with space on the ground floor for a public art gallery. Without Carr & Priddle's expert help via their property finding service we would surely have been looking for a lot longer. They helped us throughout the whole process, including negotiation and we could not be happier with the service and care they showed us”

Mike Hollingbery, BOZBOZ

Book a valuation

To book a valuation, please get in touch by completing the contact form below. Alternatively, for FREE no obligation advice, you can call us on 01273 208010 or send an email to info@carrpriddle.co.uk.