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With the capital experiencing tough retail conditions, businesses will be increasingly looking to find ways to end the trend of upward only rent review in London. It is a practice that is leading many businesses owners to feel like they are forever running up a down escalator as they attempt to plot a course through some very troublesome economic waters.

To effectively manage a review we have to define the term. Many businesses negotiate such an agreement with the landlord at the start of an arrangement. This may take the form of an assessment after a specified period of time - maybe three or five years, for example. You can choose several options. Some landlords predictably like upward only rent reviews and London, where all property is in hot demand, is a prime example of this. Others may want to have indexed rents which means the amount you pay changes due to external factors such as the retail price index. Many businesses consider break clauses. This allows tennants to consider whether they want to continue without having to wait until the lease expires.

During the recession there has been a distinct rise in the number of disputes between landlord and tennant. Businesses commonly accuse property owners of seeking to squeeze as much money out of them as possible. Equally, at time when property prices in many sectors have been falling some businesses are eager to find a way of renogotiating the amount they pay.

When disputes occur it is necessary to get external forces into play. Having independent arbitrators involved allows disputes to be settled one way or another. However the environment surrounding rent review in London is so complicated that each party may benefit from hiring a specialise consultancy.

These companies can boast an extensive range of expertise in the area. This is highly important and a firm that can provide detailed knowledge of both legislation and the market will be highly valued, especially if they can offer a degree of local knowledge. They will be perfectly placed to offer inpartial advice letting you maximise asset management at every stage. That may well involve helping tennant or landlord negotiate a more advantageous agreement or letting them know when it is best to simply cut their losses.

What matters at every step of the way is that advice is detailed and informed. The process of Rent Review in London is more complicated than anywhere else in the country. It takes skilled specialists to successfully find a way through that meets the interests of all parties involved.

Dominic Donaldson is a business expert. Find out more about Rent Review London and the services offered from The Lorenz Consultancy.

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