Are you a commercial tenant? We can help reduce your rent.

For over fifty years Richard Lionel & Partners have represented Tenants occupying commercial properties (Retail Shops, Restaurants, Offices/ Surgeries and Warehouse/Industrial) seeking assistance when faced with a rent review or lease renewal. With our expert knowledge of commercial property we ensure Tenants pay the lowest rents possible.

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Can We Reduce Your Rent?

If you are a London tenant or elsewhere in the UK with a commercial rent review, the terms within the lease will certainly affect your rent. Talking to Richard Lionel and Partners at an early date will ensure that you do not fall foul of time limits which could have serious repercussions on your tenancy.

As specialist commercial rent review surveyors we can help to ensure that an excessive demand is reduced and a fair open market rental value achieved.

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Rent reviews are normally ‘upward only’ and the best we can do is ensure the rent agreed remains unaltered and reduce a proposed increase to the minimum. However at a lease renewal Richard Lionel & Partners can in certain circumstances negotiate a revised rent lower than the previous rent.

For Tenants of Shops, Restaurants, Offices or Warehouse / Industrial space facing a rent review or lease renewal, our experienced surveyors are expert in negotiating fair terms for our clients ensuring the lowest possible rents are achieved.

A rent review can be a daunting prospect for a Tenant however we ensure the process is handled efficiently on your behalf and where appropriate we are able to negotiate creative and cost effective solutions.

We realise that for many tenants paying circa £20,000 p.a. for small premises, or £500,000 p.a. for a substantial property, may be in a vulnerable position facing a Landlord demanding a substantial increase in rent, or are confused by the workings of the 1954 Landlord & Tenant Act.

Along with our unique approach and monitoring of our comprehensive database, our specialist rent review division has since 1966 saved many millions of pounds for those tenants that we have represented.

Rent Reviews

Commercial property leases normally have a provision for a commercial property rent review where, at a specified date, the Tenant may receive a proposal from the Landlord to adjust the rent to what they believe is the current market level. Rent reviews take place at whatever intervals are agreed in the rent review clause(s) in the commercial lease. However, most leases specify that in order to prevent Landlords proposing excessive increases, the rent should be based upon the open market rental value. Tenants have the opportunity to oppose the proposed increases should there be no justification or evidence to support a lower rent than proposed.

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Lease Renewals

When a commercial lease expires, Tenants have an option to either vacate the premises they occupy or begin the process of renewing the lease. There are many potentially complicated aspects which need to be taken into account however a crucial factor will be to determine whether the lease is within the 1954 Landlord and Tenant Act which offers Tenants the legal right to renew the lease and strengthens their negotiating position. An in-depth knowledge of the current market rents is also crucial when agreeing terms. A lease renewal can be triggered by either the Landlord or Tenant by serving a Section 25 or 26 Notice and legal advice will be required in order to do so.

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Rent Negotiation

Most rent reviews and lease renewals are agreed via a process of negotiation as opposed to arbitration. Both the Landlord and Tenant will seek comparable evidence in order to justify their proposals and present their findings to each party in order to commence a negotiation. Tenants will seek and require the lowest possible comparable evidence in order to strengthen their negotiation position which will be used when negotiating with either the Landlord or their representative. The lease is also crucial to any negotiation as there may be clauses contained within which affect the bargaining power of one or both parties.

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Dispute Resolution

On occasions when rent negotiations fail, a Commercial lease will include provisions for Arbitration or Expert Determination. Either a Landlord or Tenant can apply for the appointment of a Third Party by seeking from the Royal Institution of Chartered Surveyors (RICS) for either an Arbitrator or Independent Expert to be elected. Both parties will have the opportunity to put their case via a written submission to the Third Party who will eventually determine the rent. The decision of the Third Party regarding the revised rent is final and both Landlord and tenant must accept the result.

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FIVE REASONS TO CHOOSE RICHARD LIONEL & PARTNERS

FREE LEASE ANALYSIS

Take advantage of our initial free lease analysis service available to all potential and existing clients.

EXPERIENCE

With almost 50 years of experience in rent review services, we are able to ensure the best results possible.

DATABASE

Our comprehensive property database is available and a vital tool for all rent reviews and lease renewals!

COST EFFECTIVE

We offer competitive cost effective fee structures which include ‘performance’ based and/or fixed fees.

PERSONAL ATTENTION

Our dedicated rent review team promise personal attention at all times offering creative solutions and advice.

How can we help? Have a look at our case studies to see how we are cost effective for our clients.

Get in touch

Please fill in the form and one of our rent review specialists will contact you for a no obligation conversation in the strictest of confidence.

You can also call us for us an immediate discussion without obligation or charge, with one of our rent review specialists, on 020 7487 4451

How can we help?

WHO WE ARE

London’s Leading Rent Review and Lease Renewal Specialists who for over fifty years have acted for both Landlords and Tenants ensuring the very best commercial property results.