Rent Reviews, Lease Expiries and Break Options
Every lease is a contract, and within that contract there will be details as to how your rent is to be paid, and dates on which the rent might increase, as well as expiry and possible break dates.
As a Specialist Commercial Real Estate Advisory HBC can give pertinent information on rent reviews, these being periodic dates on which the landlord might seek to increase the rent to match current market rent levels elsewhere. Market evidence is key. Headline rents, which you can be quoted, do not allow for rent free periods. Our detailed knowledge of deals done in your locality will allow us to prove the new level of rent that is appropriate
The lease will expire on a certain date but you may have to serve notice to break the lease or provide the landlord with notice that you will not be seeking an extension. Break dates are a minefield. You will need to ensure that the break is properly exercised, on or preferably before the notice period expires, is served on the right address and that you have met with any conditions.
HBC can review your lease and establish a strategy such that the break is properly exercised and that you can be released from your liabilities.
It is possible that your lease might require you to fully reinstate the premises to its original
condition in which case our Building Surveyors will investigate the extent of your liabilities and reduce the landlords claim to the minimum.