Sandrove Brahams has been acting on behalf of Landlords for over 30 years, so we understand that no one landlord is the same and with different financial and lifestyle situations, Landlord’s needs and concerns will change.
At the heart of any professional service must be prompt and timely issuance of rent demands to remind tenants of their liability, thereby ensuring insofar as possible receipt of monies on the due date by us which in turn allows Landlords to receive their income within an acceptable timescale and settle any liabilities they may have, such as mortgage repayments.
Rent Reviews and Lease Renewals
Acting either for a Landlord or an Occupier, early in the twelve months leading up to either a rent review or lease expiry we research the market; are rents going up or down, is demand increasing or falling for that particular space? Is it therefore in the interest of either side to bring the date to the attention of the other? We help our clients to secure leases that work best for them.
We also routinely advise on service charges - a major cost to the occupier of multi-occupied premises. We can help avoid the problems of inefficiency or over-spending that some tenants experience with their landlords or managing agents.
We then, if it is to be pursued, arrange for the relevant notices to be served and negotiations commenced, adopting an holistic approach that considers not just the rent but also in the case of lease renewals other matters such as the term, break clauses, rent free periods, schedules of condition etc. When negotiations have reached the stage of finality we will make our recommendation to the Client.
Schedules of Condition and Dilapidations
These are normally agreed prior to the commencement of the term and can limit a Tenant's potential liability at the end of the lease. From a Landlord's perspective they act as a formal record of the state of the premises at the beginning of the occupancy thereby limiting any potential arguments when it comes to settling the dilapidations.
At the commencement of the final year of the term, we inspect premises and advise as to the condition, giving our recommendation as to a course of action. The practical definition of dilapidations is the "exit costs" to the tenant of putting a property back into repair and potentially reinstating tenant's alterations at the termination of a tenancy / lease. These dilapidations costs are frequently a shock to the tenant who receives a schedule of dilapidations from its landlord.
Dilapidations are an area of growing dispute between landlords and tenants as the lifespan of leases becomes shorter. Landlords and tenants can have different expectation of these exit costs and we can act on eithers behalf but not both together. Acting for a Landlord, once the term of the lease has ended, we will arrange for a terminal schedule of dilapidations to be served, if appropriate.
Acting for a tenant, we will advise as to the reasonableness of any schedule received having consideration to the effect of Landlords' intentions for the premises, market conditions and if appropriate, negotiate a settlement.