Rent in both tied and free of tie Public Houses is probably the single largest cost to the business.
Most commercial leases provide for rents to be reviewed periodically, either every 3, 5 (most commonly) and 7 yearly.
On top of this many leases have an automatic annual increase based on the Retail Price Index (RPI).
Rents are usually agreed through negotiation between parties, however, in tough economic times such as these, tenants look to keep increases to a minimum (or reduce their rent if the lease allows) whilst landlords are seeking to maximise their returns and maximum rent increases.
This can sometimes lead to a breakdown in negotiations and matters then progress to third party determination (Arbitrator or Independent Expert) or through the PIRRS scheme.
ONCE YOUR RENT IS AGREED IT IS FIXED UNTIL THE NEXT REVIEW, therefore it is imperative that your rent liability is assessed correctly to enable you to receive a profit that recognises your work and commitment to your business accordingly and provides you with a fair standard of living until the next review.
MCS can help you keep your rent fair and help you through the rent review process in a number of ways.
Contact us now to discuss your rent. To enable us to give you a quick decision as to whether you have a case that your Landlord is demanding a too high a rent please ensure you have the following to hand;
Think you have a case..... Don't delay, some rent reviews can take a considerable time to settle, particularly in the case of third party determination.
CONTACT US NOW
Read our Frequently Asked Questions here.
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Marlborough Commercial Services Ltd
83 Marlborough Road, Castle Bromwich
Birmingham, B36 0EL