Navigating-Commercial-Rent-Reviews-Nottingham-commercial-property-surveyors-Commercial-lease-advice-Nottingham-Bramble-and-Wagg
|

Navigating Commercial Rent Reviews: What Business Owners in Nottingham Need to Know

As a business owner in Nottingham, dealing with a rent review can be challenging—especially if your landlord proposes a higher rent for your premises. Rent reviews are a standard part of most commercial leases, but they don’t have to be daunting. With the right knowledge and professional support, you can ensure fair and manageable rental terms that protect your business’s financial health.

In this blog, we’ll explain the rent review process, outline your options as a tenant, and share how our rent valuation and negotiation services can help. Plus, we’ll highlight a real-life case study where our expertise saved a Nottingham business owner from an unnecessary rent increase.

Navigating-Commercial-Rent-Reviews-Nottingham-commercial-property-surveyors-Bramble-and-Wagg-

What Is a Rent Review?

Most commercial leases include rent review clauses, usually set to occur every three to five years. These clauses allow landlords to adjust the rent to reflect the current market value of the premises. However, rent reviews don’t automatically mean an increase. Depending on the market conditions, rents can go up, down, or stay the same.

The basis for rent reviews is typically defined in your lease and may include terms like open market rent, which relies on comparable evidence from similar properties in your area.

What-Business-Owners-in-Nottingham-Need-to-Know-Commercial-rent-reviews-Nottingham-Bramble-and-Wagg

What Can Tenants Do During a Rent Review?

If your landlord proposes a rent increase, here’s how you can respond:

1. Review Your Lease Agreement

Carefully read the rent review clause to understand:

  • The timeline for the review.
  • The method used to determine rent (e.g., open market value).
  • Any specific conditions or terms that may apply.

2. Assess the Market

Conduct research to understand the rental values of similar commercial properties in your area. This helps determine whether the proposed increase is justified.

3. Seek Professional Support

Engage a qualified surveyor who can:

How We Can Help

At Bramble & Wagg, we specialise in helping commercial tenants across Nottingham and the East Midlands navigate rent reviews with confidence. Here’s what we offer:

  • Accurate Valuations
    We provide a professional valuation of your premises, comparing it to similar properties in the open market. This ensures any proposed rent is based on solid evidence.
  • Expert Negotiation
    Our experience in the Nottingham commercial property market enables us to negotiate effectively with landlords, ensuring you don’t pay more than you should.
  • Informed Guidance
    We explain every step of the process, so you understand your options and make informed decisions.

Case Study: Hot Food Takeaway in Nottingham

What-Business-Owners-in-Nottingham-Need-to-Know-Commercial-rent-reviews-Nottingham-Hot-food-takeaway-rent-review-case study-Bramble-and-Wagg

We recently worked with a client who operates a hot food takeaway in Nottingham. Their landlord proposed a significant rent increase during an open market rent review, but no evidence was provided to justify this hike.

What We Did:

  1. Conducted an independent valuation, finding that the open market value for this unit had not risen in five years.
  2. Compiled comparable evidence from similar commercial properties in the area.
  3. Presented our findings to the landlord.

The Result:

The landlord accepted our evidence and agreed not to increase the rent, saving our client significant costs. This case highlights how a professional approach can protect your business from unwarranted rent increases.

Why Work With Bramble & Wagg?

  • Local Expertise: We have extensive experience in the Nottingham commercial property market, including surrounding areas in Derbyshire and Leicestershire.
  • Tailored Solutions: Every rent review is unique, and we provide personalised advice to suit your business needs.
  • Proactive Approach: We don’t just defend your position—we actively seek the best outcomes for your business.

Conclusion

If your landlord has proposed a higher rent, it’s essential to take action. A rent review doesn’t have to be intimidating when you have the right professional support. At Bramble & Wagg, we help Nottingham business owners navigate rent reviews with confidence, ensuring you get a fair deal and can focus on growing your business.

Don’t let a rent increase affect your bottom line. Contact us today to discuss your rent review and learn how we can help you protect your investment.

Similar Posts