240. Agreements to increase or reduce rents.

Unless the lease contains a rent review clause permitting the landlord to increase the amount of the rent1, or unless special statutory provisions apply2, the landlord may increase the rent only with the tenant's agreement, and similarly the tenant, in the absence of any relevant provision in the lease, may not reduce the rent unless the landlord agrees to that reduction3. Subject to any special statutory provisions4, if both the landlord and the tenant agree to vary the terms of the tenancy, they may agree on an increase or decrease in the rent5.

An agreement to vary the lease may