My tenant’s rent is due but he has not paid, what should I do next?
In the first instance you should liaise with your tenant. A telephone call and/or letter may be all that is needed. If not, a landlord needs to decide if the tenant is actually capable of continuing to pay rent for that premises and act accordingly. Landlords have informal options such as agreeing temporary rent reductions, monthly rather than quarterly payments and repayment plans. Alternatively there are a range of formal remedies including distress proceedings (i.e. bailiffs), lease forfeiture and legal proceedings. Active communication, with an awareness of trading conditions, the tenants lease obligations, its genuine financial position and the market for the type of premises in question are all important factors to take into account. This is where a dedicated professional property manager can save the landlord time, aggravation and cost. For further advice please contact one of our Landlord & Tenant team
My landlord has issued a rent review memorandum requiring a large increase in the rent. What should I do next?
It is important to take professional advice in order to establish whether the nature of the lease, the premises and current market evidence justifies an increase in the rent. We regularly advise both landlords and tenants in relation to rent reviews and undertake negotiations to ensure an appropriate rent is agreed. Should it not be possible to reach agreement the matter will usually be referred to an Independent Surveyor or Arbitrator, depending upon the terms of the lease and where we again offer appropriate representation. For further advice please contact one of our Landlord & Tenant team.
I lease commercial premises but am looking to relocate. What are my options for disposing of the lease?
There are a variety of options which may be available including a surrender of the lease, an assignment, subletting or exercising a break clause. The best solution will depend upon your particular objectives, the terms of the lease, the type of property and market conditions. We would always recommend taking advice at the earliest opportunity to assess the options. Whether you are committed to relocating or are simply considering the possibility and would like some preliminary advice, any of our Commercial team would be pleased to assist.
How much will it cost to sell/let my commercial premises?
Our fees for selling or letting premises are usually performance related, calculated on the basis of a percentage of the sale price or rent and only payable upon the transaction being completed. We offer a comprehensive, professional service and if you would like further details and a quote for selling or letting your property please contact our Agency team.