Commercial Leases · glossary
The rent a willing landlord and a willing tenant would agree for the floor on the Review Date, if it were let empty for a new ten years on the lease's terms. The surveyor prices this imagined letting, using the assumptions and disregards in Schedule 2. Lease, Schedule 2, paragraph 2 · Chapter 4 · see Assumptions and disregards, Rent review
Explained in Chapter 4, Rent Review, of Commercial Leases.
The review needs a figure that does not exist yet: the open market rent. It is the rent that a willing landlord and a willing tenant would agree for the floor on the Review Date. But nobody will actually let the floor that day, because Linnet will still be in it.Read Chapter 4, Rent Review →
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This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Commercial Leases → · All terms A–Z →