Negotiating new leases, lease renewals, surrenders and rent reviews can be stressful and costly.
At Harvey Burns & Co, our team have many years of experience providing practical advice to landlords or tenants on market rentals and lease negotiations for all types of commercial property.
We are experts in managing expectations and dealing with discrepancies.
With extensive records of comparable evidence and current deals within the changing market place, we have the knowledge and thorough understanding of the market to support clients through the negotiation process. We act for both Landlords and Tenants in respect of establishing rental values at rent review.
We have extensive experience in dealing with lease renewals for both Landlords and Tenants.
The advice varies depending on the requirements of the client and we consider the impact of the leases being inside or outside the security of tenure provisions of the Landlord & Tenant Act 1954.
We consider rental values, incentives, lease lengths, rent review patterns and repairing liabilities. Schedules of conditions are also considered together with Service Charge considerations.
Our advice depends on the client however the following table sets out what we achieve.
Acting for Landlords
- Seek to sustain or increase rental values and capital values
- Re-gear leases to provide longer term security of income
- Prepare Third-Party submissions for disputes for an Arbitrator or Expert determination
- Consider re-gearing leases and leasing with tenant to achieve this through cost / benefit evaluation
- Preparing detailed comparable evidence to establish provable rental values
- Evaluate review strategies for large property portfolios
Acting for Tenants
- Seek to keep rentals as low as possible
- Negotiate rental decreases or nil increases at rent review / lease commencement
- Negotiate additional incentives
- Look at re-gearing leases depending on the tenants business plan
- Ensuring lease covenants are being adhered to
- Providing detailed comparable evidence to support our views
- Prepare Third Party submissions for disputes for an Arbitrator or Expert determination