One of the most common lease disputes is when a landlord wishes to increase the rent due to an upward only rent review clause or when a tenant wishes to renew the lease. No matter which side the negotiating table you are on, hiring an expert valuer to assess the strengths and weaknesses of your case as early as possible is highly recommended.
When serving rent review or lease renewal notices there are strict procedural rules that must be followed by each party, which can be found in the lease itself or in the landlord and tenant act. As a rule, notices must clearly state the new rent and terms to be implemented, and must provide the opposing side with a reaonsable timeframe in which to accept or counter the proposal.
Rental valuation generally follows a market approach with each side presenting relevant market data to support their case. A multitude of factors can affect the final outome, including the terms of the lease and physical attributes of the property. If no agreement can be reached then the case maybe settled by the Lands Tribunal, which is time-consuming and costly. It is therefore favourable to have a knowledgeable representative in your corner who is well versed in the landlord and tenant act and relevant case law so to that a favourable conclusion and unecessary costs are avoided.
As your representative we will initially carry-out a Rental Value Assessment to determine the potential outcome of your case. During negotiations we will prepare supporting evidence and present your case to the other side. All follow-up correspondence will be handled by us and once a final agreement has been reached the new rent will be implemented through the correct legal procedure and documentation. Any settlement offers (or counter-offers) will be discussed with you first together with our recommendations. We will never make material decisions on your behalf without your informed consent.
Our Rental Value Assessment is provided as a "letter report" and includes the following:
Our Rental Value Assessment fee is charged at 1.00% of the property's current annual rent.
For full representation (i.e. negotiations), we charge a contingency fee agreed on a case-by-case basis, based upon a percentage of the increase in annual rent, if acting for the landlord or the amount in annual rent savings if acting for the tenant.
All fees are exclusive of VAT and any out-of-pocket expenses may be added to our final invoice based on our List of Charegeable Expenses.
Call us today on +44 7436 675934 to discuss your requirements and obtain a fee quote or Email Us.