What is a rent review clause?

Rent review clauses set intervals during a lease at which the rent can be reviewed and changed to reflect the ever-evolving economic environment. This means that the rent may increase at the relevant review date to reflect a strong economic environment or remain static.

Can a rent review be backdated?

Rent reviews and backdated rents The leases generally then state that review can then be undertaken at any point in the future and, once the review has taken place, the landlord will be entitled to backdate the increased rent to the review date and charge interest.

Can a tenant trigger a rent review?

Tenants, who will often have upwards only rent reviews, may have no desire to trigger the review. Once the lease comes to an end, the general view is that the landlord will lose the right to initiate the rent reviews as the contractual relationship between the landlord and tenant has ended.

What was the new lease in the 1954 Act?

1954 ACT PROCEEDINGS: “THE NEW LEASE” DURATION OF THE NEW TENANCY AND BREAK CLAUSES Camilla Lamont Landmark Chambers Introduction 1. Other than rent and interim rent, one of the most commonly contested issues in unopposed lease renewal proceedings is as to the length of the term of the new tenancy.

What was part II of the landlord and Tenant Act 1954?

RENT AND INTERIM RENT UNDER PART II OF THE LANDLORD AND TENANT ACT 1954 RENT AND INTERIM RENT UNDER PART II OF THE LANDLORD AND TENANT ACT 1954: AN OVERVIEW AND UPDATE David Holland QC 1. It was difficult to give this talk any sort of “snappy” or witty title, so (as you have seen) I didn’t try.

Is there an interim Rent Act of 1954?

There is (as you will see) little that is new to say about the ascertainment of rent under section 34 of the 1954 Act. The relevant provisions have been around for over 50 years and are generally well understood. There have been, however, one or two recent interesting cases on interim rent. RENT 2.

How does the rent review clause in a lease work?

The rent review clause in the lease will state who can initiate the review process. Usually it will be either the landlord alone or both parties. Some leases do not require a formal procedure to be followed, and merely need one party to write to the other to initiate the review.