Is there such a thing as a commercial property rental index?

M

murphaph

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I'm wondering is there a figure one can use that is freely obtainable which simply shows the percentage rental increase/decrease in the last 12 months. Does anyone know of such a thing and if it doesn't exist, do the commercial landlords on here simply use inflation or some other figure? Thanks all.
 
It really is every man for himself, but rents are based on surrounding properties. In the case of particular properties you might be better dealing with a Commercial Property agent and / or valuer.
 
As mercman says,its based on surounding properties and is usually X amount per sq foot.you could talk to your local auctioneer and ask the going rate per sq foot on commercial property in a particular street.
 
The problem is there's no commerical property similar to it in the almost etirely residential area. The agent can only give figures for totally different warehouse type space in an industrial park about half a mile away. It doesn't reflect the rates we already get! The passing trade is huge and the businesses well established. Is it simply a case of naming our price and it's up to the tenant whether or not to take the offer?
 
Depending on the terms of the lease, the tenants may have the right to go to Arbitration which believe me can be a real headache.
 
There's no written lease in place. A lease is being drawn up and a new rate will be included in that...hence the query really. How are future rental increases normally worded in leases of this nature?
 
How long are the tenants in occupation ?? This is an extremely dangerous situation in there. You as landlords may have no rights and the tenants may just sit there and do nothing. Have you a decent solicitor ?? Rent increases are normally worded in conjunction with market rents. Again your solicitor / valuer should be able to deal with this.
 
mercman said:
How long are the tenants in occupation ?? This is an extremely dangerous situation in there. You as landlords may have no rights and the tenants may just sit there and do nothing. Have you a decent solicitor ?? Rent increases are normally worded in conjunction with market rents. Again your solicitor / valuer should be able to deal with this.
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Our solicitor is competent and is satidfied there's no risk to us at all. He informs us we can continue this informal arrangement so long as they pay their rent or if we so desire we can propose a lease which they must take or leave the premises. We will be instigating a lease as mentioned.
 
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