Commercial Leases · glossary
A fixed day on which the rent is reset to what the floor would then let for. Linnet's lease has one review, on 2 November 2031, and the new rent can rise but not fall. If the sides cannot agree it, an independent surveyor decides as an expert. Lease, Schedule 2 · Chapter 4 · see Open market rent, Upwards-only review
Explained in Chapter 4, Rent Review, of Commercial Leases.
Linnet's rent of £60,000 a year is the market rent for the floor in 2026. The lease runs for ten years, and nobody knows what the floor will let for halfway through. So the lease has a rent review: on a fixed day, the rent is reset to what the floor would then let for. That day is the Review Date, five years into the term (the Particulars).Read Chapter 4, Rent Review →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Commercial Leases and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
Related terms
Where this term lives
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 →