Making the Most of a Commercial Property London Contract with a Professional Rent Review

Making the Most of a Commercial Property London Contract with a Professional Rent Review

Commercial property, particularly commercial property London based, can be an extraordinarily expensive thing. The kinds of rent that can be levied on well-located properties (and of course most commercial properties located in London are, de facto, well placed) are astronomical as are the apparent discrepancies in rent figures between comparable buildings or office complexes. The best way to make sense of it all in other words, to make sure that the price one is paying is a fair one is to commission a rent review, which will impartially synthesise all the correct data to determine the figure a company should pay, rather than the one it actually does.

Without the possibility of legal intervention, or at least the possibility that the spectre of the Law could be raised around them, property owners have very little besides their own consciences to prevent them from charging whatever rent they feel like. The more sought-after a property or location (and, as we've said, commercial property London is definitely that probably, in fact, the most sought after property in the UK), the more a landlord or landlady can be tempted to raise their figures beyond the boundaries of legal acceptability. Of which, there is actually a benchmark which the rent review process is designed to draw attention to.

Legally, a property owner cannot charge a rent deemed overly "disadvantageous" to a tenant. While, of course, all rent is technically a disadvantage, because it has to be paid, there's a genuinely nice legal point here: beyond a certain limit, a rent figure can be deemed criminally high dependent on certain very strict conditions. The process of reviewing rent is designed to sidestep legal action unless absolutely necessary by welcoming landlord and tenant into a discussion aimed at finding compromises amenable to both parties. Obviously, such potentially tortuous conversations require expert guidance, which is where property consultants like London's own Lorenz Consultancy come into play.

Property consultants can chaperone their clients through rent review situations, often enabling them to avoid court but also offering the advantage of expert help in going to court, if that's the avenue deemed most likely to bear legal fruit. With such prized apples as commercial property London at stake, there's small wonder that the need for this niche service has arisen. What is, perhaps, a little more surprising, is the skill and consistency with which outfits like the Lorenz Consultancy manage the difficult ground between landlord (or lady) and tenant. Nine times out of ten, a perfectly acceptable solution is reached at rent review and on the odd occasion where one or the other party proves intractable, the unofficial knights of the commercial property London landscape seem well equipped to step things up into a gear where legal resolution is swift and thorough.

Reviewing rent enables new businesses and old businesses operating in this newer world to renegotiate terms of rent that may have been attached to a commercial property London for an unwieldy number of years. That means a new start for everyone: a slate on which to write the successes and (hopefully) more successes of 21st century UK business. It can be useful, amicable and profitable to both parties. In other words, it's highly recommended.

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