Rent Reviews for Landlords and Tenants

A rent review is a clause in a commercial lease that allows the rent to be revised at agreed intervals, typically every 3 or 5 years. Most reviews are upward-only, meaning the rent can only increase or stay the same. The new rent is usually assessed on the basis of open market rental value at the review date, and both landlord and tenant are entitled to appoint their own surveyor.

Yes. Unless the property is very straightforward and you are comfortable negotiating directly. An experienced rent review surveyor will assess the open market rent, identify comparable evidence, and negotiate a fair outcome on your behalf. The cost of a surveyor is almost always recovered through a better negotiated outcome. We act for both landlords and tenants.

If the landlord and tenant's surveyors cannot agree, the dispute is referred to an independent third party, either an arbitrator or an independent expert, as specified in the lease. We can guide you through the appropriate procedure and represent your interests throughout.

The open market rent is assessed by reference to comparable lettings: similar properties that have been let in the open market at or around the review date. Adjustments are made for differences in size, condition, location, lease terms, and any incentives given. Our surveyors have detailed knowledge of rental values across London and the South-East.

The report fee is 7.5% of the annual passing rent plus £185 for every 500 sq ft of floor area, with a £1,500 minimum. Enter the rent and the size on the form on this page and you will see your figure straight away, with no obligation. Negotiation with the other side is optional and charged separately, only on the result we achieve for you.

Many leases agreed during the pandemic were let at rents below the longer-term trend, so their first review is now producing large proposed changes on both sides. The review should reflect the open market rent at the review date, no more and no less, and the only reliable way to establish that is comparable evidence. Whether you are the landlord or the tenant, a figure backed by evidence is the one that survives negotiation or a third-party determination.

No. To avoid conflict of interest, we act for one party only per instruction. We act regularly for both landlords and tenants and can advise you on which side of a review we are available to assist with.