Rent Review and Lease Renewal: Session 2

The course will give an overview of the two procedures and look at recurrent issues such as whether the hypothetical lease should include a break option, what should be the assumed length of term, and how rent-free periods are taken into account in valuation. It will survey the dispute resolution options, with particular reference to the increasingly well-used PACT scheme, and consider what changes might usefully be made in the Law Commission’s current review of the 1954 Act. This course is intended for surveyors, investors, occupiers and all those involved in rent review and lease renewal negotiations or commercial property management generally.

Module Duration: 2 hours 41 minutes

Date Recorded: 18/04/2024

Areas covered

Expert v Arbitrator  

• The key differences
• What if they under perform? 
• Can their decision be appealed or challenged? 
• Which is appropriate for a specific review? 

Lease Renewal - The PACT Scheme 

• Rationale and history
• How does it work?
• Why should I opt for PACT?
• Practical tips and issues

Lease Renewal - in the First-Tier Tribunal 

• Why transfer to first-tier tribunal?
• What is the procedure?
• What is the experience of the scheme to date?

Some Practical Rent Review and Lease Renewal Issues

• Disposing of over-rented premises
  
• Review dates
• Time limits, notices and counternotices
• The hierarchy of evidence
• Fees, costs and Calderbanks

Speaker

• Mark Shelton, Commercial Property Management Law Trainer, CPM Law Training Limited and Author of 'A Practical Guide to the Law of Dilapidations' and 'A Practical Guide to Applications for Landlords' Consent and Variation of Leases'