Rent reviews allow the periodical adjustment of commercial rents to the market level current at the date of review. They take place at whatever intervals are agreed in the rent review clauses in the commercial lease.
Rent reviews typically occur every three to five years, a frequency reflecting the general shortening of lease lengths in recent times. Poorly conducted rent reviews can lead to financial loss, stalemate in agreeing new rents, and even termination of the lease.
If you are due to undergo a rent review on a commercial property but you cannot agree the new rent with your landlord or tenant, there is often a rent review clause in the lease which stipulates a procedure for third party dispute resolution.
RICS is named in 99% of commercial leases, you can apply to us to appoint an Arbitrator or Independent Expert from the President’s Panel on your behalf.
To make an application for the appointment of an Arbitrator or Independent Expert from the President's Panel, please complete and email us the application form below. Please note, we charge an administration fee of £425 to make an appointment.