Our experienced and specialist property surveyors can provide advice on the following:
- Landlord & Tenant Negotiations
- Valuation Services
- Leasehold Reform
- Business Rates
Landlord & Tenant Negotiations
Property leases can be long and complicated documents. They contain pages and pages of detail, mostly indecipherable to the inexperienced, but each and every clause is included for a reason and is designed to guide and protect the parties in the event of a dispute or unusual circumstances arising.
The three most common events that require attention for both tenants and landlords are lease expiries, rent reviews and break options. Getting good, timely advice on each of these should be of paramount importance to both landlords and tenants as the implications of missing deadlines or taking the wrong course of action can cost significant sums of money.
RIB has a team of highly regarded surveyors who are experts in their field and bring years of experience to bear when dealing with Landlord & Tenant matters including:
- Lease renewals
- Rent reviews
- Break options
- Lease re-structuring
- Lease surrenders
- Dilapidation claims
Our expertise in our core areas of the West End, Fitzrovia, Soho, Paddington & Bayswater, Camden, Euston, King’s Cross, Marylebone, Covent Garden and Holborn is first class but similarly we have extensive experience of dealing with Landlord & Tenant negotiations across London and the UK, covering all asset classes.
Please contact one of the below for more information on our services and, if required, further advice on any Landlord & Tenant issues you may be faced with.
RIB has a number of RICS Registered Valuers who can provide formal valuations for a range of purposes. Valuations purely for sales and lettings purposes can also be provided by our specialist transactional teams.
The key to valuations is a clear understanding of the client’s needs, the regulatory and legislative restrictions on the particular type of valuation required and a thorough knowledge of the market and sector in which the subject property belongs.
If you do require a valuation of a property interest, either freehold or leasehold, in the West End, Fitzrovia, Soho, Paddington & Bayswater, Camden, Euston, King’s Cross, Marylebone, Covent Garden or Holborn, then please contact us to discuss your requirements and we can provide further detail of our valuation services and fees.
Please contact one of the below for more information on our valuation services and further advice on any valuation you may need.
Leasehold Reform relates to the right granted to residential long leaseholders to either extend their lease or buy their freehold. These rights are subject to a number of qualifying criteria and the law on leasehold reform is constantly evolving with cases setting new precedents on a regular basis.
Most long leaseholders become aware of the need to extend the lease on their flat or house when looking to mortgage or re-mortgage the property. Mortgage companies are keen to see very long lease lengths on properties on which they are securing a loan. Long leaseholders have a legal right, subject to qualifying, to extend their lease. This involves several valuations that may then need to be negotiated between the freeholder and leaseholder to establish a premium to be applied to the lease extension.
Collective Enfranchisement is a further service provided to long leaseholders who would like to acquire the freehold interest of the property in which their home is situated. The legislation gives the right to qualifying leaseholders the collective right to purchase the freehold of the building. The qualification criteria and subsequent valuation process are complicated and need careful consideration and advice. Acquiring the freehold of a building comes with a range of responsibilities both practical and legal and potential freeholders need to be made aware of these ongoing obligations before proceeding.
In both cases, each party should be represented by both a solicitor and a valuer to protect their interests in these complicated negotiations. RIB has a number of specialist valuers based in London who have years of experience in dealing with both lease extensions and enfranchisements claims. They work very closely with both our residential sales and lettings teams who have up to date value information for our core areas of the West End, Fitzrovia, Soho, Paddington & Bayswater, Camden, Euston & King’s Cross, Marylebone, Covent Garden or Holborn.
Please contact one of the below for more information on our services and, if required, further advice on lease extension or enfranchisement you may be considering.
This tax on properties has become hugely unpopular within the UK business community and is regarded as an unfairly high burden on small businesses, retailers and landlords with empty properties alike.
Business rates valuations are based, in most cases, on the estimated annual rental value of the property. This is subject however to a number of assumptions which can mean the resultant figure ends up very different to the current rental value of the property.
Business rates are governed by a vast array of legislation and case law is constantly changing the rules that apply. This makes it a complex subject and one where costly mistakes are easily made.
RIB has a number of specialist surveyors who have extensive experience both in London and across the UK in advising ratepayers on mitigating their rates liability. They can provide detailed advice and guidance on:
- The accuracy of rateable values
- Appealing rateable values
- Empty Rates liabilities and mitigation schemes
- Business Rates invoices and payment calculations
- Eligibility for relief from rates on a temporary or permanent basis
Please contact one of the below for more information on our services and further advice on business rates or empty rates.