As a landlord or tenant it is essential that you are aware of your obligations under the terms of your lease and ever changing legislation. now survey enable you to ensure that new or existing contracts fulfil or continue to fulfil your commercial interests by advising on issues such as rent reviews, lease renewals and other estate management issues including your repairing obligations.
Are you a landlord or tenant of commercial property? Do the terms of your lease indicate that a rent review is due? Have you been served a notice to increase your rent or have you missed a rent review?
If you have answered yes to any of the above then we can help.
now survey offer a 'no win no fee' consultation service. This means we will act on your behalf and negotiate a rent review up or down depending on whether you are a tenant or landlord. The only fee we charge is a percentage of your gain for the first year of the lease term.
For example:
You may currently be a tenant paying £10,000 per annum for rent of your premises. The landlord at review proposes an increase to £15,000 per annum. The lease terms may set out how the rent review is to be agreed, for example it may be linked to the Retail Price Index or may be agreed on the basis of Market Value. In either event we will be able to confirm the method of calculation within your lease and negotiate on your behalf with the landlord or the landlord's surveyor to ensure that you pay the correct amount.
Clearly if you are a tenant we would be aiming to negotiate the proposed rent down. If, for example, we were able to arrange a settlement at £12,000 per annum then our fee would be based upon 30% of the reduction. In this case £1000. If we are unable to negotiate any reduction then there would be no fee payable.
When acting for a landlord we have similar 'no increase, no fee' flexible fee arrangements.
As a landlord we can advise you on the market rental figure likely to be achieved and our fees are usually calculated on the basis of 25% of any increase gained.
Mostly leases will have rent review clauses which are linked to market rent. At now survey we hold a large database of market rental information which means that we are able to confirm what the most likely rentals will be on all types of commercial property in all locations.