Other Services
Property Management
We have experience of managing commercial property for both landlords, private individuals and corporate organisations, and realise the importance of proactive management to ensure the efficient and effective running of a building.
We appreciate the need to establish client and property requirements and to structure our service accordingly. We are able to utilise our expertise and experience from other specialist areas thus providing a comprehensive service.
Our service includes:
- Rent collection
- Service Charge collection
- Maintenance and service agreements
- Administration
- Reporting to clients
- Legal requirements and agreements
- Health and Safety
- Regular inspections
- Rent reviews and lease renewals
- Lettings
- Instructing solicitors
We presently act for several landlords managing office and restaurant premises.
Dilapidations, Surveys, Photographic Schedules of Condition
The acquisition of all property, whether residential or commercial, should only be undertaken with full knowledge of its condition. This enables purchasers to be informed of the cost of any immediate, short- or medium-term repairs necessary, or whether further investigation works are required before a full appraisal of problems can be given. With the benefit of this knowledge negotiations can be tailored to achieve the best deal for our clients.
We can offer sound advice, to either landlords or tenants, on the matter of dilapidations and service charge repairs liability. Advice can be given before, during or near the end of a lease term, to minimise liability and determine the best strategy for dealing with matters. Photographic schedules of condition can be produced where appropriate to provide a true and accurate record to the state of repair of a property.
We are able to organise and oversee the following:
Dilapidations
- interim and terminal schedules of dilapidations for landlords
- we can also act against landlords representing tenants in defending and negotiating dilapidations claims.
Photographic Schedules of Condition
- for both landlords and tenants to record the condition of a property at the grant of a new lease.
Building Surveys
- to advise on the state of repair of a building, whether it is to be acquired leasehold or freehold.
- to include advice on specific matters, such as development or refurbishment opportunities.
Rent Reviews & Lease Renewals
Rent Reviews
Over the years we have been asked to represent both Landlords and Tenants, arguing different cases according to the circumstances. During the last recession rents stood still or dropped, and on behalf of Tenants we successfully resisted increases proposed by Landlords. In recent times, we have acted for a number of Landlords, obtaining good increases, sometimes the first for 10 years.
Many Tenants resist the idea of seeking professional advice from a Chartered Surveyor when their Landlord proposes an increase, particularly if their business is doing well. Tenants think there is no need and they can save money. Often – but not always – this is a false economy for inevitably our fees are substantially eclipsed by the rent saved over 3 or 5 years. Very often our fees are incentive led.
Not only is the art of negotiation required, but also a good understanding of the law, the etiquette, the comparables, the wording in a lease, the basis of measurement, the items to be included or excluded for valuation purposes, and a good eye for the right settlement. Sometimes it is not always in the best interest of a Landlord to seek the highest figure. There may be other aspects to consider.
We have experience of taking matters to a third party referee in the event of being unable to settle a rent review. On one occasion we had spectacular success achieving a substantial increase for a Landlord, far more than was offered by the Tenant before the matter went to the arbitrator.
Lease Renewals
We can act for both Landlords and Tenants. Over the years we have been asked to represent both, arguing different cases according to the circumstances.
Lease renewals are similar to rent reviews in that a new level of rent is agreed but they require new terms to be negotiated.
Landlords and Tenants often forget that at lease renewal the rent can go down. Unlike a rent review, it does not have to be the higher of the present rent or the open market rent.