{"id":4018,"date":"2023-05-15T09:53:16","date_gmt":"2023-05-15T09:53:16","guid":{"rendered":"https:\/\/threeglogic.in\/onelaw\/?page_id=4018"},"modified":"2023-06-05T07:21:37","modified_gmt":"2023-06-05T07:21:37","slug":"commercial-property-lease-renewals-and-rent-reviews","status":"publish","type":"page","link":"https:\/\/threeglogic.in\/onelaw\/commercial-property-lease-renewals-and-rent-reviews\/","title":{"rendered":"Commercial Property \u2013 Lease Renewals and Rent Reviews"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4018\" class=\"elementor elementor-4018\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-90e5d70 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"90e5d70\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-db4ddac\" data-id=\"db4ddac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4bed136 elementor-widget elementor-widget-heading\" data-id=\"4bed136\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.1 - 02-04-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Commercial Property \u2013 Lease Renewals and Rent Reviews<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce87f56 elementor-widget elementor-widget-text-editor\" data-id=\"ce87f56\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.1 - 02-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p style=\"text-align: center;\">Home\u00a0 \/\u00a0 Our Legal Services\u00a0 \/ Landlord and Tenant \/ <span data-selector=\".thrive-breadcrumb-leaf span\">Commercial Property \u2013 Lease Renewals and Rent Reviews<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-21d4cc6 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"21d4cc6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-26f6ba3\" data-id=\"26f6ba3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-551da90 elementor-grid-1 e-grid-align-right elementor-hidden-mobile elementor-shape-rounded elementor-widget elementor-widget-social-icons\" data-id=\"551da90\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.1 - 02-04-2023 *\/\n.elementor-widget-social-icons.elementor-grid-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-mobile-0 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svg{fill:var(--e-social-icon-icon-color)}.elementor-social-icon:last-child{margin:0}.elementor-social-icon:hover{opacity:.9;color:#fff}.elementor-social-icon-android{background-color:#a4c639}.elementor-social-icon-apple{background-color:#999}.elementor-social-icon-behance{background-color:#1769ff}.elementor-social-icon-bitbucket{background-color:#205081}.elementor-social-icon-codepen{background-color:#000}.elementor-social-icon-delicious{background-color:#39f}.elementor-social-icon-deviantart{background-color:#05cc47}.elementor-social-icon-digg{background-color:#005be2}.elementor-social-icon-dribbble{background-color:#ea4c89}.elementor-social-icon-elementor{background-color:#d30c5c}.elementor-social-icon-envelope{background-color:#ea4335}.elementor-social-icon-facebook,.elementor-social-icon-facebook-f{background-color:#3b5998}.elementor-social-icon-flickr{background-color:#0063dc}.elementor-social-icon-foursquare{background-color:#2d5be3}.elementor-social-icon-free-code-camp,.elementor-social-icon-freecodecamp{background-color:#006400}.elementor-social-icon-github{background-color:#333}.elementor-social-icon-gitlab{background-color:#e24329}.elementor-social-icon-globe{background-color:#69727d}.elementor-social-icon-google-plus,.elementor-social-icon-google-plus-g{background-color:#dd4b39}.elementor-social-icon-houzz{background-color:#7ac142}.elementor-social-icon-instagram{background-color:#262626}.elementor-social-icon-jsfiddle{background-color:#487aa2}.elementor-social-icon-link{background-color:#818a91}.elementor-social-icon-linkedin,.elementor-social-icon-linkedin-in{background-color:#0077b5}.elementor-social-icon-medium{background-color:#00ab6b}.elementor-social-icon-meetup{background-color:#ec1c40}.elementor-social-icon-mixcloud{background-color:#273a4b}.elementor-social-icon-odnoklassniki{background-color:#f4731c}.elementor-social-icon-pinterest{background-color:#bd081c}.elementor-social-icon-product-hunt{background-color:#da552f}.elementor-social-icon-reddit{background-color:#ff4500}.elementor-social-icon-rss{background-color:#f26522}.elementor-social-icon-shopping-cart{background-color:#4caf50}.elementor-social-icon-skype{background-color:#00aff0}.elementor-social-icon-slideshare{background-color:#0077b5}.elementor-social-icon-snapchat{background-color:#fffc00}.elementor-social-icon-soundcloud{background-color:#f80}.elementor-social-icon-spotify{background-color:#2ebd59}.elementor-social-icon-stack-overflow{background-color:#fe7a15}.elementor-social-icon-steam{background-color:#00adee}.elementor-social-icon-stumbleupon{background-color:#eb4924}.elementor-social-icon-telegram{background-color:#2ca5e0}.elementor-social-icon-thumb-tack{background-color:#1aa1d8}.elementor-social-icon-tripadvisor{background-color:#589442}.elementor-social-icon-tumblr{background-color:#35465c}.elementor-social-icon-twitch{background-color:#6441a5}.elementor-social-icon-twitter{background-color:#1da1f2}.elementor-social-icon-viber{background-color:#665cac}.elementor-social-icon-vimeo{background-color:#1ab7ea}.elementor-social-icon-vk{background-color:#45668e}.elementor-social-icon-weibo{background-color:#dd2430}.elementor-social-icon-weixin{background-color:#31a918}.elementor-social-icon-whatsapp{background-color:#25d366}.elementor-social-icon-wordpress{background-color:#21759b}.elementor-social-icon-xing{background-color:#026466}.elementor-social-icon-yelp{background-color:#af0606}.elementor-social-icon-youtube{background-color:#cd201f}.elementor-social-icon-500px{background-color:#0099e5}.elementor-shape-rounded .elementor-icon.elementor-social-icon{border-radius:10%}.elementor-shape-circle .elementor-icon.elementor-social-icon{border-radius:50%}<\/style>\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon- elementor-animation-bounce-out elementor-repeater-item-e0c58af\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\"><\/span>\n\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" width=\"24px\" height=\"24px\"><path d=\"M 18 2 C 16.35499 2 15 3.3549904 15 5 C 15 5.1909529 15.021791 5.3771224 15.056641 5.5585938 L 7.921875 9.7207031 C 7.3985399 9.2778539 6.7320771 9 6 9 C 4.3549904 9 3 10.35499 3 12 C 3 13.64501 4.3549904 15 6 15 C 6.7320771 15 7.3985399 14.722146 7.921875 14.279297 L 15.056641 18.439453 C 15.021555 18.621514 15 18.808386 15 19 C 15 20.64501 16.35499 22 18 22 C 19.64501 22 21 20.64501 21 19 C 21 17.35499 19.64501 16 18 16 C 17.26748 16 16.601593 16.279328 16.078125 16.722656 L 8.9433594 12.558594 C 8.9782095 12.377122 9 12.190953 9 12 C 9 11.809047 8.9782095 11.622878 8.9433594 11.441406 L 16.078125 7.2792969 C 16.60146 7.7221461 17.267923 8 18 8 C 19.64501 8 21 6.6450096 21 5 C 21 3.3549904 19.64501 2 18 2 z M 18 4 C 18.564129 4 19 4.4358706 19 5 C 19 5.5641294 18.564129 6 18 6 C 17.435871 6 17 5.5641294 17 5 C 17 4.4358706 17.435871 4 18 4 z M 6 11 C 6.5641294 11 7 11.435871 7 12 C 7 12.564129 6.5641294 13 6 13 C 5.4358706 13 5 12.564129 5 12 C 5 11.435871 5.4358706 11 6 11 z M 18 18 C 18.564129 18 19 18.435871 19 19 C 19 19.564129 18.564129 20 18 20 C 17.435871 20 17 19.564129 17 19 C 17 18.435871 17.435871 18 18 18 z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook elementor-animation-bounce-out elementor-repeater-item-8d96f7d\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-facebook\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-twitter elementor-animation-bounce-out elementor-repeater-item-37e0e1b\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Twitter<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-twitter\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin elementor-animation-bounce-out elementor-repeater-item-701d07f\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-linkedin\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ffc7e0 elementor-grid-4 elementor-hidden-desktop elementor-hidden-tablet elementor-shape-rounded e-grid-align-center elementor-widget elementor-widget-social-icons\" data-id=\"6ffc7e0\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon- elementor-repeater-item-ed46db9\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\"><\/span>\n\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" width=\"24px\" height=\"24px\"><path d=\"M 18 2 C 16.35499 2 15 3.3549904 15 5 C 15 5.1909529 15.021791 5.3771224 15.056641 5.5585938 L 7.921875 9.7207031 C 7.3985399 9.2778539 6.7320771 9 6 9 C 4.3549904 9 3 10.35499 3 12 C 3 13.64501 4.3549904 15 6 15 C 6.7320771 15 7.3985399 14.722146 7.921875 14.279297 L 15.056641 18.439453 C 15.021555 18.621514 15 18.808386 15 19 C 15 20.64501 16.35499 22 18 22 C 19.64501 22 21 20.64501 21 19 C 21 17.35499 19.64501 16 18 16 C 17.26748 16 16.601593 16.279328 16.078125 16.722656 L 8.9433594 12.558594 C 8.9782095 12.377122 9 12.190953 9 12 C 9 11.809047 8.9782095 11.622878 8.9433594 11.441406 L 16.078125 7.2792969 C 16.60146 7.7221461 17.267923 8 18 8 C 19.64501 8 21 6.6450096 21 5 C 21 3.3549904 19.64501 2 18 2 z M 18 4 C 18.564129 4 19 4.4358706 19 5 C 19 5.5641294 18.564129 6 18 6 C 17.435871 6 17 5.5641294 17 5 C 17 4.4358706 17.435871 4 18 4 z M 6 11 C 6.5641294 11 7 11.435871 7 12 C 7 12.564129 6.5641294 13 6 13 C 5.4358706 13 5 12.564129 5 12 C 5 11.435871 5.4358706 11 6 11 z M 18 18 C 18.564129 18 19 18.435871 19 19 C 19 19.564129 18.564129 20 18 20 C 17.435871 20 17 19.564129 17 19 C 17 18.435871 17.435871 18 18 18 z\"><\/path><\/svg>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook elementor-repeater-item-12dcfc6\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-facebook\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-twitter elementor-repeater-item-2c77e70\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Twitter<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-twitter\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-youtube elementor-repeater-item-5c654f6\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Youtube<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-youtube\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-4d11a0b\" data-id=\"4d11a0b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-45ec425 elementor-widget elementor-widget-text-editor\" data-id=\"45ec425\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Landlord and Tenant Law in respect of Residential Property and Commercial Property is conducted within a complex framework of rules setting down law and procedure. Our Landlord and Tenant Solicitors and Barristers have an impressive track record in dealing with a broad range of Residential and Commercial Property cases.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d65bac0 elementor-widget elementor-widget-text-editor\" data-id=\"d65bac0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our Landlord and Tenant Solicitors and Barrister advise both landlords and tenants in relation to agreements for lease (including pre-lets), leases, re-gearing of leases, lease renewals, assignments, authorised guarantee agreements, licences, rent deposits and surrenders.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a69d50a elementor-widget elementor-widget-text-editor\" data-id=\"a69d50a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our Landlord and Tenant Solicitors and Barristers can provide you with immediate advice upon a full range of property matters and represent you in Court at short notice if required.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe9552d elementor-widget elementor-widget-text-editor\" data-id=\"fe9552d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5>Rent Review<\/h5>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-323d703 elementor-widget elementor-widget-text-editor\" data-id=\"323d703\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Rent review in commercial property is only applicable to FRI (full repairing and insuring) leases and the purpose of it is to keep the rent in line with the (local) market for similar premises, by adjusting it regularly. The period after which rent is reviewed is known as a \u201cpattern\u201d for example, a \u201cfive-year pattern\u201d, where rent is reviewed every five years. This is typical for a 15 year commercial lease.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a286e21 elementor-widget elementor-widget-text-editor\" data-id=\"a286e21\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A FRI lease is a form of commercial lease typically held by tenants for terms anywhere between five years and 35 years and has no \u2018capital value\u2019 to the tenants in that it is not saleable. FRI leases mean the tenant must cover the full cost of repair and insurance at the property either directly or indirectly for the duration of its lease.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-94a623c elementor-widget elementor-widget-text-editor\" data-id=\"94a623c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The rent can be reviewed in various ways:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6bf211 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"e6bf211\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/threeglogic.in\/onelaw\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-double-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Stepped rent review: the landlord and tenant agree to increase the rent by fixed amounts periodically (e.g. yearly\/five yearly);<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-double-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Turnover rent: the annual rent is calculated as a percentage of the tenant\u2019s turnover at the property for that year (this is common for leases of retail or leisure premises);<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-double-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Index linked rent review: the annual rent is increased by reference to an agreed measure of annual inflation (e.g. the retail prices index (\u2018RPI\u2019)); or<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-angle-double-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Open market rent review: the rent is reviewed by reference to the market rent for leases of comparable properties in the same locality as the premises at the time of review.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b8f5ff1 elementor-widget elementor-widget-text-editor\" data-id=\"b8f5ff1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5>Lease Renewal<\/h5>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4ffbe56 elementor-widget elementor-widget-text-editor\" data-id=\"4ffbe56\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Lease renewal negotiations are more delicate than rent review negotiations because the landlord does not have an obligation to grant the renewal and the tenant does not have to stay. Under the Landlord and Tenant act 1954 \u201cany tenancy where the property comprising the tenancy is or includes premises which are occupied by the tenant and are so occupied for the purposes of a business carried on by him or for those and other purposes\u201d enjoys security of tenure.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-746e7c2 elementor-widget elementor-widget-text-editor\" data-id=\"746e7c2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Essentially, it means a tenancy which is occupied by the tenant for the purpose of business can enjoy the right to hold over the lease even when it has passed its expiry date.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0e40f99 elementor-widget elementor-widget-text-editor\" data-id=\"0e40f99\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For tenants under a commercial tenancy agreement who do not qualify for the protection of the 1954 Act, it is recommended to start rent negotiations early to allow for the terms of the new tenancy agreement to be agreed before the lease expiry date.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f1d862 elementor-widget elementor-widget-text-editor\" data-id=\"7f1d862\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Where the business tenant does have automatic rights to request a renewal of its lease agreement under the provisions of the Landlord &amp; Tenant Act 1954 then strict timetables need to be understood and adhered to. Between the periods of 12 months before the expiry date of the lease and 6 months after the expiry date of the lease, either the landlord or tenant can serve notice on the other party to extend or terminate the lease.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f0a26ff elementor-widget elementor-widget-text-editor\" data-id=\"f0a26ff\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The process of applying for a s.25 Notice (for Landlords) and s.26 Notice (for Tenants)\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-96a41ca elementor-widget elementor-widget-text-editor\" data-id=\"96a41ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>TAGS<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e53430d elementor-widget elementor-widget-heading\" data-id=\"e53430d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">You may also like<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cb6dfcb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cb6dfcb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8f6d811\" data-id=\"8f6d811\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e7dc10a elementor-widget elementor-widget-image\" data-id=\"e7dc10a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.1 - 02-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/threeglogic.in\/onelaw\/wp-content\/uploads\/elementor\/thumbs\/onelaw-chambers-immigration-solicitors-london-defaultimage-1-q5j8hwjqxwzhrwnh9de3sd64i4ax4bwsx3ca0yvrzw.webp\" title=\"onelaw-chambers-immigration-solicitors-london-defaultimage-1\" alt=\"onelaw-chambers-immigration-solicitors-london-defaultimage-1\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a173104 elementor-widget elementor-widget-text-editor\" data-id=\"a173104\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\">Leasehold Enfranchisement<\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a81eb10\" data-id=\"a81eb10\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1dcb8b6 elementor-widget elementor-widget-image\" data-id=\"1dcb8b6\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/threeglogic.in\/onelaw\/wp-content\/uploads\/elementor\/thumbs\/onelaw-chambers-immigration-solicitors-london-defaultimage-1-q5j8hwjqxwzhrwnh9de3sd64i4ax4bwsx3ca0yvrzw.webp\" title=\"onelaw-chambers-immigration-solicitors-london-defaultimage-1\" alt=\"onelaw-chambers-immigration-solicitors-london-defaultimage-1\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-636bd65 elementor-widget elementor-widget-text-editor\" data-id=\"636bd65\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\"><div class=\"tve-article-cover\">Commercial Property \u2013 Relief From Forfeiture of Lease<\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-061bb34\" data-id=\"061bb34\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e5ad4fd elementor-widget elementor-widget-text-editor\" data-id=\"e5ad4fd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5 class=\"widget-title\">Our Legal Services<\/h5>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element 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href=\"https:\/\/threeglogic.in\/onelaw\/commercial-property-lease-renewals-and-rent-reviews\/\">Continue reading <span class=\"screen-reader-text\">Commercial Property \u2013 Lease Renewals and Rent 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