Rent Reviews

Rental Reviews

A rent review is a pre-agreed opportunity for the landlord to change the level of rent payable.

Most reviews will be either a three or five year occurrence, as set out in your lease, normally falling on the relevant anniversary of the start of your lease. These specific dates are known as "review dates".

The level of rent will be determined by applying the provisions of the rent review clause contained in your lease.

Most leases contain "upward only" or "open market" provisions. However, some leases may contain fixed uplifts which are agreed at the start of the lease or uplifts in line with an index, such as the Retail Price Index (RPI).

The procedure for reviewing rent will be either LSR or an agent appointed on their behalf who will serve a rent review notice on you. Generally this notice will be a couple of months before the review date. Please be aware that notice can still be served after the review date.

You have the opportunity to agree the rent or to contact the Company or agent to discuss the matter further.

Please be aware that rent at the new level will be payable from the "review date" and that interest is often chargeable from the review date — depending on the wording of your lease.

You are, of course, at any time entitled to seek professional advice. Should an agreement not be reached on the new rent, then most leases have the provision for the matter to be referred to an independent expert arbitrator to settle.

Published : Friday, October 26, 2012 2:00 PM

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