Contributed By Hawkins Hatton Corporate Lawyers Ltd
New rent under an existing lease will be determined in accordance with the rent review clause, if such a clause exists. It is usual for the rent review clause to be ‘upwards only’. The revised rent will be the greater of the rent payable at the time of the rent review and the market rent determined by a surveyor.
Less common rent review clauses provide that the rent will be reviewed in line with inflation.