The first thing to do is not to panic. A lease advisory expert can help to guide you through this situation, so seek the advice of a lease professional if you can.
Your landlord can review the rent payable on your lease, periodically. This is called a rent review, but it can also happen at the end of your lease, particularly if you want to renew your lease.
The basis on which the rent is reviewed by your landlord, and when, is determined by the terms of your lease agreement.
Commercial rents are established based on a variety of factors, from your lease terms and the building in question, to the influence of external market forces.
This is why it is important to get professional advice about whether or not the proposed increase in rent is appropriate or not.
If, upon review of your situation, the rental uplift is deemed to be excessive, this can and should be challenged.
Our rent review surveyors are experienced in dealing with rent reviews on a variety of asset types, from offices and industrial, to retail premises.
Working closely with you and your landlord, we can guide you through the rent review process, drawing on our commercial property market knowledge and experience to agree the most appropriate rent for the building and market in question.
