Commercial Leases · glossary
A rent review under which the rent can rise but never fall. The new rent is the greater of the rent before the review and the open market rent (Schedule 2). In return, Linnet got its break on the same day as the review. Lease, Schedule 2, paragraph 1 · Chapter 4 · see Rent review, Break date
Explained in Chapter 4, Rent Review, of Commercial Leases.
“The greater of” compares two figures, and the higher one wins. The first is the rent just before the review, £60,000, and the second is the open market rent. So the rent rises with the market or stays where it is, and it never falls. This is called an upwards-only review.Read Chapter 4, Rent Review →
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