The landlord’s agent sought nearly 70% increase in the rent. The finally agreed rent showed an increase of 34%, saving the client £30,000 in rent over 5 years.
In the process, we also identified that the client had been overcharged rent for several years.
The client operated their business from the ground floor shop and lived in the residential accommodation. The renewal was very important to them in both providing security for their business and their home.
This was the client’s only property and this was the first time they had needed to deal with a Landlord and Tenant Act lease renewal.
Rental values in the area for residential property had seen very significant rises in the 5 years since the last rent review (which Vail Williams had also negotiated on their behalf).
The property was also isolated from other nearby retail being effectively a standalone unit and it had a restrictive user clause that prevented the sale of alcohol (due to the adjoining pub).
We negotiated with the landlord’s surveyor and achieved a significant reduction in the rent that was quoted by the landlord.
The negotiations also enabled the start date of the rent increase to be delayed providing further savings to the client.
We were also able to identify an overcharge on the rent demands that resulted in a refund of over £8,000 to the client.
Finally, at the client’s request, Vail Williams was able to recommend a solicitor to complete the legal documentation of the new lease. We remained in contact throughout and, in the process, identified problems including a lease demise plan that had omitted the pavement area in error (an area that was used by the client and which needed to remain in the demise).
- Reduced the rent demanded by the landlord from a 70% increase to a 34% increase
- Secured a 10-year lease to provide the client with long-term security
- Identified a rent overcharge
- Continued to assist throughout the process of getting the lease documentation completed by solicitors
“The team at Vail Williams was invaluable in securing our lease renewal at a rent rate which was reasonable, offering us security for both our home and business for years to come. In addition to this, their expert advice and support throughout the whole process resulted in further unanticipated benefits such as the rent refund. Their commitment to client service was second to none.” Andrea Tsiakalas, K&A Tsiakalas.
Other Lease Advice Case Studies
- Berry BMW Vail Williams’ commercial lease advice team was appointed by Berry BMW to improve the lease terms ... Read more
- Jewson Vail Williams was instructed by one of the UK’s largest chains of general builders' merchants, Jew... Read more
- Direct Wines Vail Williams was instructed by international independent wine merchant, Direct Wines, to provide co... Read more