Professional Practice of Rent Review in Commercial Properties in South South Nigeria

This study examines the professional practice of commercial rent review in South South Nigeria, investigating the methods, triggers, and dispute resolution mechanisms applied by estate surveyors and property managers in conducting rent reviews for office, retail, and industrial properties across Rivers, Delta, and Cross River States. Rent review is a core professional estate management function that determines the income trajectory of commercial property investments, yet its practice in Nigerian regional markets outside Lagos remains poorly documented in the professional literature. The study employs a qualitative professional practice design, drawing on structured interviews with 25 commercial property managers, 15 estate surveyors with rent review advisory experience, and 20 commercial tenants. A review of ten case study rent review processes, including both amicable and disputed reviews, provides detailed process evidence. Assessment dimensions include review trigger mechanisms, market evidence sourcing, method of comparison for review, negotiation process management, and arbitration utilisation. Findings show that open market rental value comparisons using direct sales evidence are the predominant review methodology, but data quality limitations in most South South commercial property sub-markets are a significant professional challenge. Lease provisions for dispute resolution through NIESV arbitration are infrequently used, with most disputes resolved through direct negotiation or allowed to lapse. Regional market rent levels outside Port Harcourt GRA are weakly evidenced due to limited transaction reporting. Recommendations include creating a South South commercial property market data sharing consortium among NIESV members, standardising rent review dispute resolution clauses in commercial leases, and training commercial property managers on arbitration procedures. Keywords: rent review, commercial property, South South Nigeria, professional practice, rental value.