Rent reviews and disputes
The purpose of a rent review is to adjust the rent to reflect changes in the value of money and the value of the property. Unsurprisingly, these can often cause disputes between landlords and tenants, with the former seeking the highest increase at rent review and the latter the lowest.
Most rent review disputes are settled through negotiation between the respective surveyors. If an amicable agreement is not possible, the dispute will usually be referred to a third-party independent surveyor, who will act either as an arbitrator or as an independent expert.
The arbitrator will usually settle on an amount for the reviewed rent between the two parties. Costs will be attributed between the parties.
Surveyors acting as arbitrators in commercial property rent reviews, RICS guidance note
Surveyors acting as expert witnesses, RICS practice statement and guidance note
Surveyors acting as independent experts in commercial property rent reviews, RICS guidance note