As Christmas approaches at break neck speed everyone is slowing down.  Except for us in the utilities team as this can be a hectic time of year. 

This is due to the 25^th December being an annual quarter day.  The significance of this is rent, as some of our clients have to pay rent to landowners for the apparatus that they have laid on their land.  For us this means the following:
 

1. Identifying who needs paying.
2. Checking the rental payment date and ensuring that the monies will be received on that date.
3. Identifying the rent review date and if there is one in December what the provisions for that are as laid out in the lease.
4. Updating ourselves with the most recent RPI (Retail Price Index) figures.
5. Establishing Open Market values where required.
6. Ensuring we have requested enough funds from the client to pay the landowners.

 
2009 has been a topical year mainly due to the credit crunch.  This is having an impact on our rent reviews.  When the review is based upon annual RPI figures there is usually an increase.  However, this year the percentage change in RPI has been negative over several months. This means that in some cases the rent would decrease except where there is a clause clearly stating ‘upwards only’.  This is the first time in many years this has happened and is a learning curve for all of those involved.

So ….. Rural surveying has plenty for those who are up for a challenge. 

Merry Christmas