Rent Reviews and Service Charges in Commercial Leases

Introduction

This course is for solicitors and surveyors in Scotland who work regularly with commercial leases, and will also be useful for those involved in negotiating the terms of new leases or the handling of purchase or loan work where there is an existing commercial lease in place.

Are you aware of the dangers of headline rents, adverse assumptions and disregards in rent review clauses?

Or adverse provisions in turnover rent clauses and service charge clauses? Are you doing your best to protect your tenant client when it comes to service charge?

If so, would you be able to revise and counter-revise accordingly?

By attending this course, delegates will be able to learn and gain confidence in examining, negotiating and revising leases of commercial properties in relation to rent reviews, turnover rents and service charges.

What You Will Learn

This course will cover the following:

• Rent reviews that are unworkable or are void from uncertainty
• Open market rent reviews
• Geared rent reviews
• Inflation linked rent reviews
• Trigger notices
• Time of the essence and service of notices
• Upward only provisions and how to get it wrong
• Late review and abandonment
• Third party referral drafting
• Assumptions and disregards at review
• Artificiality and the dangers involved
• Headline rent and how to avoid them
• Ground lease rent reviews
• Turnover rents - definition of turnover - inclusions and exclusions
• Review of turnover rent/base rent
• Service charge
• Definition of services - mandatory/discretionary
• Extent of Landlord’s obligation
• Share of cost and scope to vary
• Sinking funds
• Service charge code
• How to protect the Tenant