18 Oct 18 by Nick Holman
Market sentiment across all sectors has improved over the past 12 months and although a time to celebrate, it is imperative that Landlords and occupiers continue to manage all forthcoming lease events (Rent Reviews, Lease Renewals or break options) carefully and strategically.
This is a key service that we offer and one that in the recessionary period paid dividends for our clients. Managing Rent Reviews and Lease Renewals at an asset management level means that we can review portfolios as a whole enabling us to proactively identify the best strategies to either maximise cost savings or income streams depending on specific requirements. It allows us to provide recommendation reports in advance of key lease events and as a result our clients can adjust their budgets in advance of any changes.
Portfolio management also means we can look beyond the perceived primary issue of rent, especially at lease renewals, to see if there are other matters that warrant consideration in the wider context of asset management such as lease terms or the requirement of additional space. This is determined through working closely with the Client and our Agency, Property Management and Building Surveying colleagues.
In addition to our extensive experience of Landlord and Tenant Law, we benefit significantly from the experience and expertise of Nick Holman. Nick is appointed to the RICS President’s Panel of Arbitrator and Independent Experts. This provides us with a very good insight into the present arguments being tabled at Rent Review if agreement is not possible and a third-party determination is required. The Team also has experience in Court as an Expert Witness on Lease renewals.