Chartered Surveyors - London, Middlesex, Surrey - David Cooper Associates

Rent Reviews / Lease Renewals

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David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals David Cooper Associates - Commercial Chartered Surveyors Services - Rent Reviews / Lease Renewals

Rent Reviews

David Cooper Associates Chartered Surveyors act on behalf of both Landlords and Tenants in respect of commercial rent reviews, the provisions of which are invariably incorporated within a standard lease of all types of commercial property.

It is important that both Landlords and Tenants are fully aware of the Rent Review Dates contained in the Lease documentation. In such a way, the process can be commenced, at an early date and, preferably, some months prior to the actual Rent Review Date with the intention that a settlement can be reached as soon as possible and as close as possible to the Rent Review Date itself. In such a way, both Landlords and Tenants will be aware of any rental increase which may result and can plan their cash flow efficiently and effectively.

What can we do for you?

Whether we are acting on behalf of a Landlord or Tenant, our services include the following:

Assessment of Rental Value

In order to assess the rental value of the property for rent review purposes, we will require a copy of the Lease and any other relevant documentation including, for example, Licences for Alterations together with details of any improvements which may have been carried out to the property by either the Landlord or the Tenant during the currency of the Lease. We will also require information concerning any previous Leases which may have been entered into between the Landlord and Tenant in respect of the property in question.

We will inspect the property and take accurate measurements and will apply those measurements for the purpose of the Assessment of Rental Value whether the premises are of an office, retail or industrial nature or, for that matter, any other commercial use.

Once we have carried out a physical inspection of the property and the locality in which the property is situated and considered the terms of the Lease and any other relevant contractual documentation, we will carry out all other necessary enquiries and use our own skill, knowledge and expertise in order to formulate the rental value of the property applicable at the rent review date.

We will then report to our Client (whether Landlord or Tenant) by way of a formal Rent Review Report, which will set out the market rental value of the premises, as required by the Lease, and will provide recommendations and advice to progress the matter further.

Negotiations

Once we have reported our findings to our client, whether Landlord or Tenant, we will be pleased to enter into negotiations with the Tenant or Landlord or any professional representative they may appoint on their behalf to negotiate the rent.

It is always our intention, in the interest of our client, to reach an amicable settlement with the other side, as that will almost invariably maintain a good Landlord and Tenant relationship and will also minimise costs for both parties. In the vast majority of cases, rent reviews are settled on an amicable basis between the parties or their professional representatives without the need to refer the matter to a third party.

Third Party Determination

In a small number of cases, for whatever reason, the parties may not be able to reach an amicable agreement so far as the Rent Review is concerned. In such circumstances, David Cooper Associates Chartered Surveyors, represent both Landlords and Tenants in making written representations to arbitrators and independent experts, as part of alternative dispute resolution in our formal role as advocates or as Expert Witness.

Lease Renewals

Whether you are the Landlord or the Tenant of a commercial property, it is essential that you are aware of the date at which the Lease will come to an end.

If a Lease falls within the Landlord and Tenant Act 1954 (‘the 1954 Act’), the Landlord can bring the Lease to an end by serving upon the Tenant a Section 25 Notice or the Tenant can bring the lease to an end by serving upon the Landlord a Section 26 Notice. In either case, the Notices cannot be served more than twelve months, nor less than six months prior to the expiry of the term and, furthermore, the Notices cannot stipulate a date for expiry earlier than the actual end of the contractual term.

In the case of a Lease renewal, Landlords and Tenants should be aware that the rent can either go up or down from the existing rent payable. The Landlord is entitled to a market rent upon renewal of the Lease and statutory provisions will require the rent to disregard improvements carried out by the Tenant in the previous twenty-one years and will also disregard any effect upon the rent of the Tenant’s occupation of the premises or any goodwill which might attach to the premises as a result of the Tenant’s business occupation.

Both Landlords and Tenants should also be aware that during the last three years of a Lease, the Landlord has the right to serve what is known as a ‘Final’ or ‘Terminal’ Schedule of Dilapidations.

Whether you are a Landlord or a Tenant it is advisable that you seek the advice of a solicitor at least twelve months prior to the end of the contractual term in order to establish the exact legal position so far as the service of Notices is concerned and so that your solicitor can advise fully on the appropriate steps to take in order to protect your interest.

What can we do for you?

David Cooper Associates Chartered Surveyors can assist both Landlords and Tenants by making an assessment of the rental value of the property, negotiating with the other party or their professional representative and, if necessary, acting as Expert Witness in a referral to a third party, court, tribunal or other adjudicator.

Whether we are acting on behalf of a Landlord or Tenant, our services include the following:

Assessment of Rental Value

We will require a copy of the Lease and any other relevant documentation including, for example, Licences for Alterations together with details of any improvements which may have been carried out to the property by either the Landlord or the Tenant during the currency of the Lease. We will also require information concerning any previous Leases which may have been entered into between the Landlord and the current Tenant in respect of the property in question.

We will inspect the property and take accurate measurements and will apply those measurements for the purpose of the Assessment of Rental Value whether the premises are of an office, retail or industrial nature or, for that matter, any other commercial use.

Once we have carried out a physical inspection of the property and the locality in which the property is situated and considered the terms of the Lease and any other relevant contractual documentation, we will carry out all other necessary enquiries and use our own skill, knowledge and expertise in order to formulate the Rental Value of the property at the Lease Renewal or other relevant date.

We will then report to our client (whether Landlord or Tenant) by way of a formal Lease Renewal Report, which will set out the market rental value of the premises, as required by the Lease and relevant legislation, and will provide recommendations and advice to progress the matter further.

Negotiations

Once we have reported our findings to our client, whether Landlord or Tenant, we will be pleased to enter into negotiations with the Tenant or Landlord or any professional representative they may appoint on their behalf to negotiate the rent.

It is always our intention, in the interest of our client, to reach an amicable settlement with the other side, as that will almost invariably maintain a good Landlord and Tenant relationship and will also minimise costs for both parties. In the vast majority of cases, lease renewals are settled on an amicable basis between the parties or their professional representatives without the need to refer the matter to a third party.

Third Party Determination

In a small number of cases, for whatever reason, the parties may not be able to reach an amicable agreement so far as the lease renewal is concerned. In such circumstances, David Cooper Associates Chartered Surveyors, represent both Landlords and Tenants in making written representations or attendance at the court, tribunal or other third party adjudicator as part of alternative dispute resolution, in our formal role as advocate or Expert Witness.

With offices in Mayfair, Richmond and Harrow, we at David Cooper Associates Chartered Surveyors have a longstanding and detailed knowledge of the commercial property rental market in Central London, the City and the West End including Kensington, Knightsbridge and Chelsea, North-West London including St John’s Wood and Hampstead, Middlesex, North and West London, Hertfordshire, Surrey and the surrounding areas of the South-East and the Home Counties. For further information in respect of the areas we cover please go to locations.

For further professional advice and to discuss your needs in detail, please call
David Cooper Associates Chartered Surveyors on 0800 6124 960

Alternatively, if you would like to contact us by other methods please click here.

Further Information and Useful Links

Freephone
0800 6124 960

From outside the UK
dial 0044 800 6124 960

Fax. 020 8206 9999
Email. info@david-cooper.co.uk

Surveys carried out at short notice and at weekends

David Cooper Associates have offices in the following areas:

Harrow, Middlesex

Kenton House, 666 Kenton Road, Harrow, Middlesex, HA3 9QN

Mayfair, London W1

1 Berkeley Street, Mayfair, London, W1J 8DJ

Richmond, Surrey

Parkshot House, 5 Kew Road, Richmond, Surrey, TW9 2PR

From our offices, we cover most areas of the South and South East and many areas of the UK.

RICS: Royal Institution of Chartered Surveyors
Regulated by RICS

Independent Surveyors and Valuers Association
Members of the ISA

All major credit cards accepted

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