Re-gearing a lease is the practice of re-negotiating your lease terms during the course of the contract and can help occupiers reduce costs and provide improved business flexibility. This can be done at any time throughout the term, although key event dates such as rent reviews, break dates and forthcoming lease expiries offer good opportunities for tenants to trigger negotiations with their landlords. Many landlords are willing to negotiate a reduced rent or rent free period in return for commitment to a longer lease term, which has a positive effect on the investment value of the property.
In the current economic climate, re-gearing is a way to help both landlord and tenant achieve their goals and is seen as a ‘win- win’ situation. The flexibility of re-gearing means there are many ways to tailor the process to specific circumstances and both parties should be able to reach a mutually beneficial agreement quickly.
CVS is the ‘Tenant’s Choice’ as we do not work for landlords on rent reviews and lease renewals, ensuring there is no conflict of interest. We are results focused so you can be assured we will receive the best possible outcome for you. Contact us today.