RENT REVIEWS AND LEASE RENEWALS



Peter Tew & Co. act for both Landlords and Tenants with regard to rent reviews, lease renewals and new leases under the Landlord and Tenant Acts. For some Tenants the likely increase in rent on review compared with other outgoings may seem too small to justify engaging professional advice; this may sometimes be right, but in our experience it is rare for professional advisers not to yield significant benefits. In addition to savings in the rent which may be negotiable against the background of wider market knowledge, rent reviews may provide an opportunity to change other aspects of the Lease, such as repairing covenants, service charges or user clauses. It is rare for two Leases to be identical and case law has woven a tangled web of precedent in the Courts. Rent levels change from year to year, but they do not always maintain the same relationship from one locality to another. Tenants through lack of knowledge may thus except rents higher than justified, thereby setting an excess level as a precedent for others in similar buildings or areas. Such distortions in the market are regrettably common. More often than not the greatest success in rent reviews is achieved by combining a detailed up-to date appreciation of the letting market together with the knowledge and the skill to interpret statutes and case law.
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