The Complete Guide to Renting a Commercial Property The Complete Guide to Renting Commercial Property | Page 9

The Complete Guide to Renting a Commercial Property

Reviewing the Rent and Making Changes
Your lease may contain provisions that allow the landlord to change the
rent. This is fairly standard, but the rules should be clear before you
agree to them.
It is obviously important that the landlord not be able to simply impose an increase in rent whenever
they want to. The basis for the rent review should always be the market rent unless stated
otherwise, and this should be taken from a published, independent and authoritative source.
The open market rental value provision should specifically exclude any improvements you make as
well as any that arise from your own businesses' successes, unless they're part of the lease
agreement.
The lease should also include a provision allowing you to serve a rent review notice on the
Landlord. This can help you to avoid paying interest on any increase in rent from the appropriate
rent review date. Ensure that the interest rate on the difference is no higher than the bank's base
rate, and avoid adding strict time limits to the rent review clause.

Commercial Property – Industrial Units, Office Space to Rent

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