Question Category: Rent Changes
Can you decrease your rent? Can your landlord increase your rent? Find out here in the rent changes section of Occupa’s FAQs.
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How much will it cost me to have a rent review determined?
Apart from the RICS Small Business Scheme, it’s not possible to be specific. Each arbitrator or expert will have his/her own costs and fees for a rent review, and there is the cost of any expert witnesses who may be called. There may be an award for… Read MoreQuestion 19/01/17 Alex Reuben
What is the difference between taking a rent review to an arbitrator or an expert?
The functions of an arbitrator are similar to those of a judge, though the processes are less formal than those of a court. Arbitrations are governed by The Arbitration Act 1996. The arbitrator reaches a decision – which is called an “award” – after… Read MoreQuestion 19/01/17 Alex Reuben
How much will it cost me to appoint a surveyor to negotiate a rent review?
There are no recommended fee scales so it will depend on the market in the area in question. Fees can be based on an hourly rate, a fixed sum or a percentage of the rent agreed. They can also be based on a percentage of the reduction of the rent prop… Read MoreQuestion 19/01/17 Alex Reuben
Is there a Rent Officer service for business tenancies?
No there is no rent officer service. But the RICS run a special scheme for rent reviews for small business premises.Question 19/01/17 Alex Reuben
Do I have to accept the landlord’s proposals for the new rent?
No. If you can’t agree, either or both of you can invoke the dispute resolution procedures specified in the lease. Most leases provide for a third party to determine the rent when the landlord and tenant can’t agree. This will usually involve arbitra… Read MoreQuestion 19/01/17 Alex Reuben
How is the new rent determined?
Where there is a rent review under an existing tenancy, this will operate according to the terms of the lease. Most leases provide for a third party to determine the rent when the landlord and tenant can’t agree. This will usually involve arbitration… Read MoreQuestion 19/01/17 Alex Reuben
How often can the landlord review my rent?
This depends on the rent review provisions contained in the lease. The most commonly adopted norm is every 5 years but in some cases it can be every 3 years. So look at the lease to be sure. The review pattern is one item among many which are open to… Read MoreQuestion 19/01/17 Alex Reuben
Is the landlord entitled to put up the rent?
The lease may provide for rent increases or reviews during the course of the tenancy. If it does not, the rent agreed upon at the beginning of the tenancy will apply for the full length of the tenancy.Question 19/01/17 Alex Reuben