Experience tells us that you should start preparing 18 months in advance of your lease expiry date. Are you a Landlord or Tenant approaching the final stages of your lease? If so, Mounsey Surveyors have an intimate knowledge of Landlord and Tenant law with the ability to negotiate on your behalf to achieve the most favourable outcome.
A lease renewal provides an opportunity for both parties of a lease to consider whether or not they wish to continue to be bound by its terms. Whether we’re acting on behalf of a Landlord or Tenant, we recognise the importance of understanding what our client is looking to achieve by the end of the renewal process. For a Landlord, this may be to increase the rent currently being paid or to extend the term of the lease to provide security of income and add value to their asset. In contrast, a tenant may require the flexibility to determine the lease at regular intervals to protect against changes in their business or improve lease security to support investment in a property.
The service that we offer to our clients includes:
- Analysis and reporting on the existing lease agreement
- Measured inspection of the property
- Valuation advice
- Negotiation of new lease terms, including advising on the timing and service of section notices
- Liaise with solicitors throughout the legal process to document the new terms
Improving market conditions and rental growth has seen the return of the rent review market.
A rent review usually takes place at each 3 or 5 year interval, depending on the lease term, to re-align the rent currently being paid with Market Rent. Our chartered surveyors use their knowledge and expertise to advise Landlord and Tenant clients on the review process, including the review terms, comparable transactions, tactical considerations and third party submissions.
Where an opportunity exists, we look to add value to an instruction to negotiate the removal of break options or re-gear leases. This has resulted in clients providing repeat instructions to advise on all aspects of their portfolio.
We are currently instructed to act on behalf of a Landlord client to provide professional advice on a local, multi-let industrial estate. Understand how we’ve been assisting them increase the value of their investment.