Rent reviews are an important stage in the occupation of leasehold property. Typically occurring every three to five years at intervals previously agreed upon in the clause within the lease, renting reviews permit adjustments of costs according to current market levels. BPS can help assist with rent reviews for both landlords and tenants, commercial and residential leases.
Commercial & Residential Rent Review Services from BPS
The BPS team understands how rent reviews affect both landlords and tenants. For landlords, they present an opportunity to receive an increased rent, whereas for tenants, it presents a situation where business cash flow will be affected. This can be a difficult time across the renting divide, so we aim to assist on providing the fairest result for both parties.
As a result, we recognise the financial loss that comes from poorly conducted rent reviews. This is why we guarantee professional and reliable renting review services for every commercial or residential property.
The law and legislation governing the way in which rent reviews are to be handled states that it is the responsibility of the surveyor to ensure all factors are considered when advising and representing either a landlord or a tenant.
At BPS, not only do we have our client’s best interests at heart, but we are also completely compliant with laws and legislations surrounding renting reviews. We’re also committed to delivering this with a transparent approach.
Every lease sets out the basis upon which the property is to be valued. In our experience, most leases provide for upward-only rent reviews meaning that the rent can never be lower than the level it was when the lease was granted. However, we have experience with many other types of rent review, so we can assist with your specific requirements.
Rent Reviews as part of our Property Management Services
Our rent review consultants have extensive expertise and knowledge of the renting review procedure, along with the property market itself. We want you to the get the best from your property and the lease and our combination of rent review and lease renewal services can help you achieve this.
In addition to these two professional services, we offer a number of other helpful property-related services and are always committed to help every single client. Take a look at some of our other property services here, book a free consultation or get in touch with us today to discuss your requirements.
If you’re interested in working with us on our property services, why not take advantage of our bespoke property management packages?