Rent review

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  • Rent review

    I have a commercial property that I let out in Torquay current rent I charge 102000
    The rent reveiew is coming up in July and as this is my first property I don't know how i start the process of the review and how much I should raise it

    If some one could give me advice as to what things I should take into account regarding raising the rent so how many percent I should raise it ois there a process I should do

    I would be grateful

    Thanks

  • #2
    With a rent that high you need to instruct a specialist landlord and tenant surveyor.

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    • #3
      If you have a tenant and he is paying in the current climate I would be wary of enthusiastically chasing an upward rent review as many are looking for rent reductions .Obviously its best in the hands of a specialist who may quietly asses a fair rent without stirring the tenant up unnecessarily .

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      • #4
        You will first need a rental valuation having regard to the rent review clause in the lease. If it suggests an uplift then you may choose to start the rent review process. A local chartered surveyor can help you with this.

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