Can your property achieve a higher rent?
Commercial rent review and lease renewal surveyors for landlords
When a rent review or lease renewal occurs, we gather the evidence and negotiate the best rent your property should be achieving. It starts with our free, no-obligation lease analysis.
Are you a tenant? Rent reviews for tenants
£156,000more rent: shop, Central London
Landlord · Office · Central London
£225,000
more rent over five years
Rent review calculator
What could a higher rent be worth?
The extra rent times the years to the next review: a rise from £40,000 to £52,000 a year brings in £60,000 over five years.
Put in your own figures: the current rent and a new rent you have in mind. Most leases review the rent every three, four or five years.
Whether the property can achieve that rent is a different question. That depends on the open market rental value, proved by comparable evidence.
The higher rent would bring in
£0 over 5 years
- A year£0
- Change0%
- Per sq ft£0 to £0
That wouldn't be an increase. Where the market says there should be none, we can propose creative, amicable solutions that work financially for both landlord and tenant.
A rent review is your chance to bring the rent up to the open market rental value. Most commercial leases say the reviewed rent should reflect it, and comparable evidence is what proves it. The extra rent also adds to what your property is worth. We'll analyse your lease free of charge.
How much more rent can a rent review surveyor achieve?
In two recent cases, £225,000 and £156,000 more rent over five years. Since 1966 our landlords' rent review division has been increasing clients' investment values by many millions of pounds.
The extra rent comes in every year, and it adds to what the property is worth. For the Central London shop, it also meant an additional £750,000 on the investment value of the property.
Office · Central London
£225,000
more rent over 5 years£45,000 a year
Shop · Central London
£156,000
more rent over 5 years£31,200 a year
What can a rent review surveyor do for a landlord?
Secure the market rent with evidence, add to the value of your property, advise on when to start the review, and put your case if talks fail.
Achieve the market rent
We review your lease and seek comparable evidence to present to your tenant, to secure the current market-level rent.
How much can you increase the rent?Add to the property's value
An extra £20,000 a year in rent may add £400,000 to the capital value of a property, and considerably more on larger buildings.
Why does the rent matter to its value?Get the timing right
Start as soon as you know the review date. Property is usually valued as at that date, so waiting for the market to rise won't help, and can strain relations with your tenant.
When should you start a rent review?Settle a dispute
If negotiations fail, we can represent you and put your case in writing at arbitration or expert determination.
What if your tenant won't agree?
How we help landlords with a rent review or renewal
We analyse your lease free of charge, negotiate on the evidence, and settle by agreement or, if it comes to it, arbitration.
Free lease analysis
We'll analyse your lease without charge and in confidence, and explain our fee options: fixed, performance-based, or both.
We negotiate on the evidence
We build your case from comparable rents, drawing on our own property database, and negotiate with your tenant or their representative.
Agreement or arbitration
Most cases are settled by negotiation. If not, your lease may provide for arbitration or expert determination, and we'll put your case.
What really stood out was their calm, proactive approach to negotiation and how smoothly they managed the entire negotiation process from start to finish.
Talk to us early. Some leases set strict time limits for rent review notices, and missing one can be costly. Read: Time can be of the essence
Book a free lease analysisWhich landlords do we act for?
Any commercial landlord renting out shops, restaurants, offices, industrial and warehouse premises, or medical, dental and veterinary practices, from 500 to 250,000 sq ft, across the UK, whether the rent is £15,000 or £1,000,000 a year. We don't act on homes or flats.
Commercial leases are complex documents that need analysing and understanding before a rent review or lease renewal. With our knowledge of commercial property and the 1954 Act, we make sure your investment performs to its maximum potential.
Your rent review questions answered
Can you increase the rent on a commercial lease?
Yes, at a rent review or a lease renewal. Most commercial leases have a rent review clause that lets you propose a new rent at set dates during the lease, and when the lease ends the rent is renegotiated as part of renewing it. Either way, the new rent has to be justified by evidence of the open market rental value.
How much can you increase the rent at a rent review?
As far as the open market rental value at the review date supports, unless the lease fixes the increase or links it to RPI. There is no fixed percentage. The open market rental value is worked out from comparable evidence: rents agreed for similar premises nearby, on similar terms, compared per square foot, with recent open market lettings of genuinely similar premises carrying the most weight. How well the tenant's business trades, and the rate of inflation, are not the test.
Why does the rent matter to your property's value?
Because the rent drives the investment value. An extra £20,000 a year in rent may add £400,000 to the capital value of a property, and considerably more on larger buildings. That is why it pays to have a specialist handle the rent review or lease renewal for you.
When should you start a rent review?
As soon as you know the review date. Commercial property is usually valued as at the rent review date set out in the lease, not the date the review is triggered, so leaving a review for a year or more in the hope of market growth will not help. Ignoring the review can also harm your relationship with the tenant, who will not relish a bill for back rent.
Can you still review the rent if the review date has passed?
Usually, yes. Time is usually not "of the essence" in a rent review, so a landlord can serve a rent review notice after the review date; the property is still valued as at that date, and the new rent is backdated to it. Some leases do set strict deadlines, so check yours first.
What if the market doesn't support an increase?
We can propose creative, amicable solutions that work financially for both landlord and tenant. A rent review does not always mean a rent increase, and where the market dictates a nil increase, an amicable agreement is usually better than a costly dispute.
Are upwards-only rent reviews being banned?
Yes, in new business leases in England and Wales, but not yet. The English Devolution and Community Empowerment Act 2026 (opens in a new tab) received Royal Assent on 29 April 2026. Once its rules are in force, the rent could go down at a review as well as up. Existing leases are not affected, but a lease renewal agreed on or after 17 March 2026 can be caught. The Government has not yet set the start date.
What happens to the rent when a commercial lease ends?
It is renegotiated as part of renewing the lease. A crucial question is whether the lease is protected by the Landlord and Tenant Act 1954, which gives the tenant the legal right to renew. A renewal is started by a Section 25 notice from the landlord or a Section 26 notice from the tenant, and legal advice is needed to serve one.
If you and your tenant can't agree, the court sets the new rent at what the property "might reasonably be expected to be let in the open market by a willing lessor" (section 34 of the 1954 Act (opens in a new tab)). That is why an in-depth knowledge of current market rents is crucial when agreeing the new terms.
How should you record an agreed rent review?
In a signed rent review memorandum. A rent review can be agreed verbally, and the agreement is binding if there is evidence of the conversation, but a signed memorandum is the evidence that protects both sides. Our advice is to have professional representation and to document any agreement properly.
How much does a rent review surveyor cost?
With us, it starts with a free lease analysis, in confidence and without obligation. After that, our fees can be fixed, performance-based, or a mix of the two, and we'll explain the options before you decide.
Before you negotiate: our 11-point rent review checklist
Page updated
More questions landlords ask
How often is commercial rent reviewed?
At whatever intervals the lease's rent review clause sets, usually every three, four or five years. The clause also sets the review dates, and the rent is normally valued as at each one.
How do you start a rent review?
By proposing a new rent to the tenant under the lease's rent review clause, usually by serving a rent review notice. Check the review provisions in the lease first: they set the review date and any deadlines.
Does a landlord have to renew a commercial lease?
If the lease is protected by the Landlord and Tenant Act 1954, the tenant has a legal right to renew it. Whether the lease is protected is a crucial first question, and serving any notice to start a renewal needs legal advice.
What is a Section 25 notice?
It is the formal notice a landlord serves to start a lease renewal under the Landlord and Tenant Act 1954; a tenant starts one with a Section 26 notice. Legal advice is needed to serve one, and the dates it sets matter.
Read: Section 25 and 26 notices explainedCan you propose any rent you like at a rent review?
You can, but unless the evidence justifies it, the tenant's surveyor will show why it is wrong. Being realistic about the new rent is what gets a review agreed.
What happens if your tenant won't agree the new rent?
If the lease allows it, either side can ask the RICS to appoint an arbitrator or an independent expert. Both put their case in writing, and the decision on the rent is final. RICS charges a £425 fee just to make the appointment, and most rent reviews and renewals are agreed by negotiation instead.
Do you need a surveyor for a rent review?
It is prudent. A surveyor acting for you finds the comparable evidence and negotiates with the tenant or their surveyor, so that the fair open market rent is achieved.
Who will handle your rent review?
Our partners, Richard L Daniels and Charles Daniels, and our dedicated rent review team, who give personal attention at all times.
Richard L DanielsFounding partnerFounded the firm in 1966; five decades in commercial and industrial property.rld@richardlionel.co.uk
Charles DanielsPartnerFifteen years representing landlords and tenants on offices, industrial and retail space.cd@richardlionel.co.uk
From the first consultation to the delivery of the final report, Charles was punctual, thorough, and easy to communicate with. He took the time to explain the process clearly, answered all my questions, and ensured I fully understood the results.
Book your free lease analysis
Fill in the form and one of our rent review specialists will contact you for a no obligation conversation, in the strictest of confidence.
Or call now
020 7487 4451- Mobile07795 298 748
- Emailcd@richardlionel.co.uk
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Open Market Rental What?
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