How to Prepare for a Rent Review: A Guide for Commercial Tenants and Landlords

Rent reviews are a standard part of most commercial leases but they often catch tenants and landlords off guard. Whether you're approaching a scheduled review or have received a rent proposal out of the blue, it’s important to understand the process and get professional advice.

At Olden Property, we work with both landlords and tenants across Kent and Sussex to provide independent rent review valuations, backed by market data and RICS standards.

What is a Rent Review?

A rent review is a mechanism in a commercial lease that allows the rent to be adjusted at specified intervals typically every 3 or 5 years. Most modern leases provide for the rent to be reviewed upwards only, based on the open market rental value at the review date.

Why It Matters

An incorrect or unsupported rental figure can have long-term financial consequences. Tenants may end up overpaying, and landlords may risk underletting or triggering disputes. Accurate, independent advice is essential.

Preparing for a Rent Review: Key Steps

1. Check the Lease

Understand the rent review provisions — review frequency, basis (open market or indexed), notice periods, and any dispute resolution mechanisms.

2. Gather Comparable Evidence

The key to any rent review is market evidence. We research local transactions and analyse factors like location, size, frontage, lease terms, and condition to determine a fair rental value.

3. Instruct a Valuer

A RICS Registered Valuer will inspect the property and provide a formal rent review report. This can be used in negotiations or submitted to an arbitrator or independent expert if required.

4. Negotiate or Respond

Once a proposal is made (usually by the landlord), the other party can agree, negotiate, or dispute it. A well-supported valuation strengthens your position either way.

Common Misconceptions

· "The rent must go up" – Not always. If market values have fallen or stayed flat, there may be no increase.

· "I can’t challenge the proposal" – You can, and should, with proper evidence.

· "We’ll just renew the lease instead" – Lease renewals and rent reviews are separate processes unless specifically linked.

Who We Help

We assist:

· Landlords who want to review rent professionally and fairly

· Tenants who need to challenge or negotiate proposed increases

· Agents and solicitors looking for expert support or third-party valuation

Our Service Areas

We carry out rent review valuations across Tunbridge Wells, Sevenoaks, Brighton & Hove, Eastbourne, Guildford, and beyond.