If there is a market rent provision, it should specifically exclude (or disregard) any improvements the tenant makes (other than as part of an explicit obligation) or any value arising from the tenants business. There should be provisions in the event of any disagreements which will be referred to an independent expert or arbitrator to determine.
Rent Reviews
Rent Reviews
Panels of Property Experts
Search our list of Property Independent Experts and Arbitrators:
| Name | Qualifications | Independent Expert | Arbitrator | Address | Telephone | |
|---|---|---|---|---|---|---|
| Manus Agnew | FRICS, FSCSI, FCIArb Dip. Arb Law | Independent Expert | Arbitrator | 20 Clanwilliam Square Grand Canal Quay Dublin 2 | 01 6623113 872546391 | magnew@quinnagnew.ie |
| Desmond Byrne | FSCSI, FRICS, Dip. Arb.Law, Dip. Legal Studies | Independent Expert | Arbitrator | Hambleden House 19-26 Pembroke Street Lower Dublin 2 | 01 6477900 0872780555 | dbyrne@bannon.ie |
| Rosemary Casey | MBA, FSCSI FRICS ACI Arb | Independent Expert | Arbitrator | Casey Commercial 20 Harcourt Street, Dublin 2 | 863811225 | rosemary@caseycommercial.ie |
| John Oliver Costello | FRICS, FSCSI , Dip.Arb.Law, M. Phil (Edin) | Independent Expert | Arbitrator | Hamilton House 28 Fitzwilliam Place Dublin 2 | 01 6612100 0872565490 | johncostello@costellocommercial.com |
| Michael Coyle | FSCSI,FRICS, FCIArb Dip Arb law. | Independent Expert | no | 80 Harcourt St. Dublin 2 | 01 6623113 087 2546391 | mcoyle@hwbc.ie |
| James Crowley | FSCSI,FRICS, ACIArb | Independent Expert | no | 2 The Maples,Pembroke Wood, Passage West,Cork | 021 4863666 086 2734462 | crowleyjamesj@hotmail.com |
| Katie Curran | BSc (Surv), MRICS, MSCSI, MCIArb, Dip Arb | Independent Expert | Arbitrator | 32 Parnell Street Clonmel Co Tipperary | 526121750 863848272 | kate@moynihancurran.com |
| Pauline Daly | FSCSI,FRICS, ACIArb,Dip,Arb.Law BSc, Dip.Env. Econs | Independent Expert | Arbitrator | Styne House Upper Hatch Street Dublin 2 | 016731600 0872525608 | Pauline.daly@eu.jll.com |
| Ronan Diamond | BSc (Hons) MSCSI MRICS Dip. Arb. Law | Independent Expert | Arbitrator | St Stephens Green House Earlsfort Terrace Dublin 2 | 01 6382792 086 8103668 | rdiamond@lisney.com |
| Mervyn Feely | FSCSI, FRICS | Independent Expert | Arbitrator | 1st Floor 23A Seafield Road Booterstown Co Dublin | 012196680 0868117587 | mervynfeely@eircom.net |
| Donal ffrench-O’Carroll | FSCSI/FRICS, FCIArb, MLitt(Dub), DipLS | no | Arbitrator | Elliott FitzGerald, Chartered Surveyors, 11 Lower Pembroke Street, Dublin D02 Y958 | Office: (01) 661 4403 Mobile: 086 2490794 | donal@elfitz.ie |
| David Gill | FSCSI, FRICS, Diploma in Arbitration Law | Independent Expert | Arbitrator | David Gill Associates Blackrock, Dublin | 872550774 | dgill@dga.ie |
| Brian Gilson | MSCSI MRICS Bsc.Dip.Arb. Law, Dip.Property Investment | Independent Expert | Arbitrator | St Stephens Green House Earlsfort Terrace Dublin 2 | 01 6382756 0872846197 | bgilson@lisney.com |
| Ian Given | MSCSI MRICS Bsc(Surv),Dip.Prop.Econ | Independent Expert | no | 4/5 Dawson Street Dublin 2 | 01 6731410 086 8238199 | ian@twmproperty.ie |
| Edward Hanafin | BSc ( Surv) MRICS MSCSI | Independent Expert | Arbitrator | 1 South Mall Cork | 0214275079 0872218719 | ehanafin@lisney.com |
| Margaret Kelleher | FSCSI FRICS | Independent Expert | Arbitrator | 1 South Mall Cork | 021 4226904 872517266 | mkelleher@lisney.com |
| Rory Lavelle | FSCSI FRICS | Independent Expert | Arbitrator | 3A Sycamore House Millennium Park Naas Co. Kildare W91WN72 | 045 433550 0862645158 | rory@lavellecs.ie |
| Donal Madigan | MSCSI MRICS | no | Arbitrator | 4 Riversdale Avenue Bushy Park Road Terenure Dublin 6 | 01-5590958 087 2454491 | dkamadigan@gmail.com |
| Eamonn Maguire | MRICS,MSCSI,VRS | Independent Expert | Arbitrator | 26/27 Upper Pembroke Street, Dublin 2 | 01 6499096 872399640 | emaguire@mcsi.ie |
| Hugh Markey | FRICS, FSCSI | Independent Expert | Arbitrator | ‘The Annexe’, Golf Lane, Westminster Road, Dublin 18 D18 H265 | 872541112 | hugh.markey@icloud.com |
| John McCann | FRICS, FSCSI, ACIArb | Independent Expert | Arbitrator | 20 Clanwilliam Street, Grand Canal Quay, Dublin 2 | 01 6623113 862555872 | jmccann@quinnagnew.ie |
| Conor McCormick | MSCSI MRICS Bsc (Surv) | Independent Expert | no | 4 Herbert Place Dublin 2 | 01 6766902 087 2416934 | conor@mccormickestates.com |
| Eoin McDermott | FSCSI, FRICS, ACI Arb. | Independent Expert | Arbitrator | Mespil House, Sussex Road, Dublin 4 | 872271754 | emcdermott@outlook.ie |
| Paul McElearney | FSCSI, FRICS, FCI Arb | Independent Expert | Arbitrator | 7a Fitzwilliam Place, Dublin 2 | 10637555 872536928 | Paul.Mcelearney@norths.ie |
| Robert McHugh | MSCSI, MRICS, MCI Arb., Dip. Arb. Law | Independent Expert | Arbitrator | Cushman & Wakefield 164 Shelbourne Road Ballsbridge D04 HH60, Dublin 4 | +353 1 6399341 + 353 86 3883981 | robert.mchugh@cushwake.com |
| Brian Meldon | FSCSI, FRICS, Registered Valuer | Independent Expert | Arbitrator | Eastbourne Stillorgan Park Blackrock Co Dublin | 01 2121747 0872558704 | brianmeldon1@gmail.com |
| James Nugent | BSc MRICS MSCSI | Independent Expert | Arbitrator | St Stephens Green House Earlsfort Terrace Dublin 2 | 01 6382742 0868380361 | jnugent@lisney.com |
| Conor O’Clerigh | FSCSI, FRICS | Independent Expert | Arbitrator | 106 Lower Baggot Street, Dublin 2 | 01 8096030 862459477 | info@ocleirighco.ie |
| Frank O'Grady | FSCSI FRICS | Independent Expert | no | Pavilion House, 31/32 Fitzwilliam Square, Dublin 2 | 01 6618444 086-2563165 | frank@campionproperty.com |
| David Potter | FSCSI FRICS ACI Arb | Independent Expert | Arbitrator | 33 Molesworth Street Dublin 2 | 01 6181309 876687058 | david.potter@savills.ie |
| Aidan Ringrose | FSCSI, FRICS, ACI Arb. | Independent Expert | Arbitrator | 38-39 Fitzwilliam Square, Dublin 2 | 01 6024715 0879519786 | aidan@ringrose.ie |
| Ronan Rooney | MRICS, MSCSI , MCIArb, Dip.Prop.Econ., BSc Surv, BA | Independent Expert | Arbitrator | Victoria House Eyre Square Galway | 091 567391 0872519918 | ronanrooney@rooneys.ie |
| Barry Smyth | FSCSI FRICS | Independent Expert | Arbitrator | 35 Kildare Street Dublin 2 | 872551841 | barrysmyth@dvws.ie |
| Peter Stapleton | FSCSI FRICS | Independent Expert | Arbitrator | St.Stephen Green House Earlsfort Terrace Dublin 2 | 01 6382740 086 2527470 | pstapleton@lisney.com |
| John Stewart | FSCSI FRICS MCIOB, MCIArb. | Independent Expert | Arbitrator | 26/27 Upper Pembroke Street Dublin 2 | 01 6499006 0879484054 | john@stewartsurveyors.ie |
| Elaine Torpey | FRICS, FSCSI, BSc (Hons), Dip AVEA | Independent Expert | Arbitrator | Kroll 24 St Stephen’s Green, Dublin, D02 EK82 | 872357676 | Elaine.Torpey@kroll.com |
Download the application form
Click below to access the application form. If you have any queries or are in need of assistance please contact, paddy@scsi.ie.
Find out more:
Rent
A business lease is a legally binding contract between the legal owner (landlord) and the occupier (tenant). Leases may contain a provision allowing either party to initiate a rent review. The rules by which the rent can be changed should be clear and understandable. The basis of a rent review should be the market rent unless clearly stated otherwise. If any increases/decreases are fixed to an index the basis should be a published, independent and authoritative source.
Do your research
Parties should understand the basis on which the rent can be changed, that it can go up or down, is fixed for a longer/shorter period, is linked to Consumer Price Index (CPI) or RPI. Both parties should think very carefully before deciding whether or not to initiate the rent review.
- CSO – Consumer Price Index – https://www.cso.ie/en/statistics/prices/consumerpriceindex/
- CSO – Residential Property Price Index – https://www.cso.ie/en/statistics/prices/residentialpropertypriceindex/
Watch out for the interest payments
Rent review clauses in modern leases allow for the rent to be revised either upwards or downwards depending on the determined market rent. Where the passing rent continues to be paid beyond the rent review date, prior to the determination of the market rent, resulting in either an overpayment or underpayment of rent in the interim, both landlords and tenants where applicable should be entitled to receive an interest payment on the difference.
Add a clause in the contract to forfeit interest on delay
Try to avoid a situation where the interest rate on the difference is higher than the bank base rate. Consideration should be given to introducing a provision whereby either party forfeits their right to interest on the difference in rent paid after the review date if there is a delay in initiating the rent review process.
Give yourself time
Avoid strict time limits in the rent review clause (other than in reference to its date and interest rates, if not forfeited as suggested) – these could result in either party losing the ability to negotiate.
Caveat Residential vs Business Leases
Often small business owners who have rented a residential property before assume that a business lease is the same. However, this isn’t the case.
