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As already stated by others the lease is the key document. The 'Rent Review' clause will set out the mechanism for the review and it usually also sets out what happens when the two sides don't agree. This can be by recourse to Arbitration or reference to an Independent Expert.
It may seem an additional expense to consult a Surveyor for advice but it could save you a lot in the long run.
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Glenn is correct. You will probably have a review period, eg at half-way. This is very common. There is a Rent Tribunal that you can appeal to who will determine a 'fair rent'. There may also be an agreement in place that, on transfer of ownership, rents have to remain as they are for a period. This may be contained in Regulation/Legislation. Strongly suggest you see a Chartered Surveyor (RICS) who deals with commercial leases. There are websites that cover leases, eg LetLink, but they tend to focus on domestic leases. Still worth a try.
Hope this helps.
I agree with Glenn.
It all depends on the cycle for rent rises and any other rise clause whcih all leases will have somewhere.
This isn't my warcraft but my first port of call would be to look at the terms and conditions of the lease agreement. There may be stipulations as to the length of lease and agreed charges. This would include life-cycle, maintenance, access/egress and in the case of your problem, rental increases etc. If you cannot find anything that leaps out you should consider taking the agreement to someone more savvy with this sort of thing. They will be able to read the legal fluff and formally determine for you what the landlord can and can't do. If the lease is due or nearly due for renewal I would contact the landlord and agree new terms. if they are uncoperative you then have the option to look somewhere else. a 50% hike seems quite harsh unless the origional rental was very low in the first place.
HI all I work for a chairty who has 3 shops accross our county.
One of our shops on an industrial estate as recently seen a change of landlords as the whole estate was bought.
We have just recieved our first bill from them and they have increased the rent from £3000 per quarter to £4500 a quarter without any warning or review.
Can they leagally do this?
Apologies if I have posted in the wrong place, I wasnt quite sure where to put it.
Thanks in advance
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