Tenants - 3 Ways You Can Make the Rent Review Process Easier

1. Do your research, and do it early

Once you have made of a note of the rent review date, make a note of the date 6 months before. When you get that reminder start doing some research.

If you think there may be an increase, budget for this.

The rent review date is fixed, so if it is agreed after that date any rental uplift is backdated.

If you can put money aside to cover a potential increase, you can sit back and see if the landlord triggers the review. If there is a time limit for the landlord to serve notice or apply for the appointment of an Arbitrator, then preparing for the worst but holding fire could be the best option.

2. Initiate the process yourself

It may seem bizarre to activate your own review. But, if you think that the rent will go up, it may be wise to end the uncertainty and get the review settled before more evidence is created.

3. Don't Ignore it in the hope that it will go away

You may be lucky; sometimes a review isn't triggered, and the tenant enjoys another five years at the same rent.

By the time of the next review, the landlord may decide not to bother with the previous one - it could damage an otherwise good relationship, and it's not so easy to get details on 'historic' transactions. The surveyors who handled them may have moved to other firms, and the files may have been archived.

But, it's not impossible to get the information, and if the lease allows the landlord to activate the review at any time, they are entitled to do so.

A final warning

Even if the rent increases by only a small amount, you could face a bill for all of the arrears at the next quarter, which may not be so small. Maybe your landlord will agree a payment plan, but don't assume that they will.

Of course, if you really want to be in the driving seat in the negotiations, get in touch now so that we can review your lease me and help you prepare.