This year we have achieved 100% uplifts for landlords and up to 40% reductions for tenants. We have has a lot of success for both landlord and tenants in 2023 rent reviews in Dublin and across Ireland. Our secret? A profound grasp of rent review clauses and lease intricacies, strategically employed to secure optimal outcomes.
We believe in the Art of Win-Win Negotiation
Negotiation, in its essence, is about creating victories for all parties involved. While rent reviews can sometimes be perceived as potential battlegrounds, we believe in transforming them into opportunities for mutual benefit. At Fleming Real Estate, we understand that fostering positive relationships and conducting negotiations with finesse are the linchpins of achieving favorable results.
Unraveling Rent Review Disputes
Rent review surveyors are instrumental in evaluating rental evidence to bolster the case of both tenants and landlords. However, it’s imperative to recognize that rental figures are not the sole point of contention. Here are four common disputes that necessitate expert guidance:
1. Measurement Matters
In the world of rent reviews, every square foot carries a tangible value. Landlords aim to maximize every inch, while tenants seek to minimize. Even with SCSI guidelines, disputes over measurements persist. Knowing which areas to include or exclude is pivotal in guiding landlords and tenants towards favorable rent reviews.
2. FitOut & Conditions Clash
Disagreements over a property’s condition form a frequent source of contention between landlords and tenants. Landlords often prefer rents based on fully fitted-out units, primed for immediate occupation. Conversely, tenants lean towards rents based on shell and core. The key to averting such disputes lies in meticulous lease wording and an attached condition report. In cases where this isn’t feasible, the expertise of a rent review surveyor is indispensable.
3. Break Options Balancing Act
While not always a prominent factor, break options within a lease can significantly influence rent reviews. Navigating their impact hinges on the wording of the break option and the hypothetical lease detailed within the rent review clause.
4. Deciphering User Clauses
Often overlooked, user clauses can sway the favor towards either party in rent review negotiations. Tenant occupation has the potential to enhance a property’s utility in the landlord’s favor. While goodwill and tenant occupation are typically disregarded, tenants can elevate a property’s use through planning permission enhancements or overall area improvements. Striking a balance between market rents and goodwill in such scenarios can be a complex endeavor.
Embrace Expert Guidance
In the dynamic real estate landscape, entrusting your rent review negotiations to seasoned professionals is the key to unlocking favorable outcomes. At Fleming Real Estate, 2023 stands as a testament to our success in securing victories for both landlords and tenants.
Whether you’re a landlord striving for optimal returns or a tenant seeking a fair and equitable rent review, our team is primed to navigate the complexities on your behalf. Contact us today and let’s chart a course towards rent review success in Dublin and Ireland.