Services
Our Services
Chadwicks offer a wide range of professional services which include:
Valuations - Residential and Commercial
We prepare valuations of residential and commercial (retail office warehouse) properties for many purposes. This includes for sale or purchase, bank lending, accounting, capital taxation (including 1982 valuations), matrimonial and probate. Chadwicks have completed more than 1,000 valuations and surveys in the last 5 years.
Simon Chadwick FRICS is an RICS Registered Valuer. The Royal Institution of Chartered Surveyors registration scheme was introduced in 2011 to ensure the standard and high quality of professional valuations. Registered valuers are regulated and monitored by the RICS.
Residential Surveys
We offer the RICS HomeBuyers Survey and Condition Report to our residential clients who are in the process of purchasing a new home and who wish to determine the condition of their proposed purchase. The RICS HomeBuyer Report and Home Condition Report are available at a competitive rate and can be delivered in either printed or electronic form. For further details or to discuss your particular needs Click Here.
Sales & Lettings - Commercial Property
From our offices in York, we offer a full marketing service for the sale and letting of business accommodation. This includes an initial inspection, providing a marketing report through to preparing particulars and negotiating a transaction.
In addition to selling or letting retail, office and industrial/warehouse properties, we provide advice to and negotiate on behalf of potential purchasers and tenants who are keen to obtain the best deal or limit their liability under their new lease.
We provide a practical consultancy service to both landlords and tenants involved in either a rent review or a lease renewal process. This includes advice on rental values, the negotiation of a rental and/or new lease terms and referrals to a third party such as an arbitrator where necessary.
Rent Review - Lease Renewal
The rent review process is full of pitfalls for the unwary. We have the experience and knowledge to steer you through that process. The review process will be outlined in the lease and is designed to assess a market rent at a given point in time. In order to do so, a detailed analysis of the lease terms and understanding of how they impact upon the rental value is vital, as is a thorough analysis of rentals paid on other properties that may be used as evidence.
As every commercial property and every lease has the potential to be different, rental evidence drawn from one property cannot be automatically applied to another. The characteristics, trading position, size, layout, use and construction etc can all have an impact.
Our comprehensive rent review service includes all aspects of the procedure from serving notices or counter-notices, inspecting, gathering evidence, conducting negotiations, if necessary 'going to arbitration', finalising the memorandum and calculating back rent.
The Lease renewal process can also catch out the unwary. Although most business tenants benefit from security of tenure, it is very easy to lose that security. Early reference to a surveyor or solicitor is therefore vital if you are a tenant and a Section 25 Notice is received.
Secure business tenants are generally entitled to a renewal of their lease on similar terms to their current lease. However, the renewal process presents an opportunity to revisit some of the lease terms and by agreement amend them. As with rent reviews, a detailed knowledge of the process is essential so that the best most advantageous renewal terms can be agreed.
Chadwicks specialise in the rent review and lease renewal process and whilst we cannot promise miracles, it can pay you to contact us.
If you would like to find out more then please feel free to contact us for a discussion, or take advantage of a FREE initial consultation and competitive performance related fee scale.
General Letting Advice - Consultancy Service
Chadwicks provide a Consultancy Service for tenants considering taking a lease. It is all too easy in the haste to sign a lease to give too little consideration to the future. Prospective tenants can fail to realize the implications of the proposed lease terms, or take steps to minimise them. Two areas regularly cause problems, repairs and rent reviews.
Most modern leases are prepared on what is known as a Full Repairing basis. This means that the tenant takes responsibility for all repairs to both the interior and exterior of a property, include items of disrepair at the start of the lease. This liability can prove very costly yet can be easily avoided or reduced in a number of ways, perhaps by the inclusion of a Schedule of Condition in the lease.
Rent review provisions in leases vary widely, and careful drafting is required to ensure that a fair rent results from the review process. Increasingly, landlords are seeking to link future rents to RPI or some other form of indexing rather than to property values. The result can be a greatly inflated rent.
Chadwicks Consultancy Service will identify areas of concern and offer remedies to limit and mitigate your exposure, but we can ONLY do this BEFORE the lease is signed.
Dilapidations or a Schedule of Condition
To reduce a tenants liability for repairs, a Schedule of Condition can be Incorporated into the lease. We prepare these Schedules for tenants and check them on behalf of landlords.
At the end of a lease, the landlord might require the tenant to put a property back into repair in accordance with the lease terms. The process starts with the serving of a Schedule of Dilapidations. We prepare Dilapidations schedules for landlords. We also advise tenants on their strict liability for those repairs outlined in the Schedule. The tenant might no be liable for all the repairs set out in the Schedule. There is also a limit to liability.
Rating
Chadwicks offer advice and assistance in the appeal of the Rating Assessment on commercial property. Business rates can be a significant cost to businesses, and it therefore makes sense to ensure they are as low as possible.