Commercial property lease renewal negotiations
Acting for both landlords and tenants, we manage the lease renewal process and negotiate new lease terms.
Both landlords and tenants have critical decisions to make as lease renewal dates approach. We can work with you to explore your options, establish the current market rent for the property, and then act on your behalf to negotiate the terms of the new lease.
What option makes most sense will depend on the state of the market as well as the circumstances of each party and the fine print of the existing lease. We’ll discuss potential strategies in detail, using our knowledge of the local market and our professional judgement to give you sound advice.
Where possible, we’ll look for an informal approach that maintains good landlord and tenant relationships, minimises stress, and keeps legal costs down.
An expert on your side
The law in this area is complex, so it’s essential to get expert advice from the start to be sure you don’t lose out. Expert guidance is even more critical when the other party has professional backup.
If, for example, you are a landlord and have a national organisation tenant, it’s very likely the organisation will employ dedicated lease renewal specialists. With our wide experience and specific local market knowledge, we can help you negotiate successfully and achieve a good outcome no matter who is representing the other party.
Acting early for a successful outcome
It’s important to act early, because either party can serve notice to start lease renewal proceedings up to 12 months before the end of the contractual term. This means it’s best to bring us in around 18 months before the lease is due to end, to give us time to help you plan your strategy, prepare evidence, and serve any required notices.
Unlike most firms, we agree in advance a fee structure that works for both parties. No nasty surprises.
To find out more about lease renewal law and processes, see our Introduction to Commercial Property Lease Renewals article.