Indexed rent review—annual basis with optional cap and collar
Indexed rent review—annual basis with optional cap and collar

The following Property guidance note provides comprehensive and up to date legal information covering:

  • Indexed rent review—annual basis with optional cap and collar

  1. 1

    Definitions

  2. Base Figure

    1. is:

      1. (a)

        on the first Review Date [[insert the Index figure for the [month] before completion of the lease] OR t] the Index figure for the month before [the term commencement date OR completion of this lease;]

      2. (b)

        on each succeeding Review Date, the Index figure for the month before the preceding Review Date;

    Current Figure

    1. the Index figure for the month preceding the Relevant Review Date;

    Independent Surveyor

    1. an independent chartered surveyor with at least [10] years’ experience of valuing premises comparable to the Property;

    Index

    1. the ‘all items’ [Retail Prices OR Consumer Prices] Index published by the Office for National Statistics or any successor or replacement agency or government department;

    [Maximum Rent

    1. [insert figure]% of the Rent payable immediately before the Relevant Review Date;]

    [Minimum Rent

    1. [insert figure]% of the Rent payable immediately before the Relevant Review Date;]

    Review Date

    1. every anniversary of [insert the date on which the term commences] and Relevant Review Date shall be interpreted accordingly

  3. 2

    Ascertaining the rent

    1. 2.1