Rent Review – Orme Associates can represent you in respect of a rent review. They appear in most commercial leases granted for a term of five years or more, are typically every three or five years, and are frequently upward only. The main types of rent review are a review to open market value (OMV) which are to be agreed between the parties to the lease. Please see our Factsheet below.
Our fact sheet on Rent Review is at link Rent Review Factsheet.pdf
Lease Renewals are possible by a tenant under the Landlord and Tenant Act 1954 by service of a tenants notice under section 26 (a s.26 notice) on the Landlord, and they will similarly require an assessment of the new rent to appear in the lease (this is not possible where a lease is contracted out of the Landlord and Tenant Act 1954). Please see our Factsheet below.
Our fact sheet on Lease Renewal is at link Lease Renewal Factsheet.pdf