Pub Rent Reviews
Public(an) Wealth Warning
If you are facing a rent review or have not had your review formally documented please read this - it could save you thousands because many pub co's allow rent to fall at review!
Is your Pub Co Lease Rent Review or Renewal Due soon or in the next 12 months?
Is your Rent set by someone who is bonused on their rent line?
Do you think your lease sale is blighted because you are over rented?
Have you been offered “Nil Increase” on your review/ renewal if you act quickly?
Do you think your renewal negotiations are unduly protracted? (Without a formal notice your new rent can not take effect)
Do you need Professional Representation on affordable terms that won’t impact your current cash flow? In many instances Pub Innsite operate on a no win no fee basis, as well as potentially self financing payment options, each case is dependent on its merits - many tenants have been skeptical but just review our testimonials - our clients are happy to provide references!
If you have answered yes to any of the above you may need Pub Innsite, to act in your best interests, because you shouldn’t expect your Pub Company to act for both sides.
Be Professional, be Prepared call Pub Innsite for a no obligation discussion about your review or renewal.
If you would like a brief "how to" leaflet providing basic rent review advice or lease renewal advice, please e-mail us and we'll send you the relevant information.
The basis of every rent review is identified in the Lease. You must have a copy to understand how the review is calculated and dealt with. Many Leases have annual RPI increases, but at review these increases can sometimes be removed. Yes that is correct many pub co leases allow for rents to go down at rent review.
If your Pub Company offers you Nil Increase or a marginal increase, this might be to crystalize the rent at a rate that might be higher than market rent. Alternatively if a Pub Company lets your rent continue without documenting the review, this could also identify they believe you might be able to achieve a rent reduction.
There is a further reason that a landlord might not want to document a rent review, this is so that when you come to sell your lease, or request a favour from him, he can then use your request as leverage to effect a rent review and secure an unwarranted increase - an ingoing tenant will insist that any outstanding reviews are formerly documented and to ensure it is dealt with quickly, you might well agree to a back dated increase. Please be warned the short term gain of avoiding Surveyors fees could result in long term pain!
Tenants please beware of :
Rent Review Notices - some Leases will provide that time is of the essence and if you don't respond in the appropriate manner you could have the proposed increase imposed on you regardless of whether the figure is appropriate or not. You need to review what your lease advises regarding your lease renewal to understand if time is of the essence.
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